Basker-Manta-Gummy Increases Production 30%

The Basker-Manta-Gummy (BMG) Joint Venture has completed the installation of the 6 inch, 5.5 km flowline from the B6ST1 subsea tree to the Basker manifold. Production from the well commenced to plan on September 8th, and has stabilized at more than 5000 bopd, with a favorable gas oil ratio (GOR) and zero water. Overall production rate from the Crystal Ocean FPSO has now increased from 9,500 bopd to approximately 12,500 bopd, a more than 30% increase.

Flow from B6ST1 is primarily from the new shallower oil pool discovery, sand 2872m, which is demonstrating favorable fluid characteristics and reservoir deliverability. Overall production rate from the field continues to be limited by flow constraints in the production riser, which carries a commingled stream of oil, water and gas. The overall higher oil rate has been achieved by substituting the higher GOR Basker 3 crude with Basker 6ST1 low GOR crude.
The JV is focusing now on the next phase of development, with an extensive drilling program commencing end of this year and the new FPSO commencing 2nd Qtr 2010, which will enable nearly a doubling of rates.
The participants in the BMG Joint Venture are:  Anzon Australia as operator with 40%; Beach Petrojleum with 30%; and CIECO Exploration with 20%; and Sojitz Energy with 10%.