ROC Pegs Zhao Dong Production Rate at 18,900 bopd
Roc Oil (Bohai) Company, a wholly owned subsidiary of ROC, advised that the average daily Zhao Dong production rate for 2H 2009, which includes the Extended Reach Area ("ERA") (ROC: 24.5%) and C-4 unitized fields (ROC: 11.575%), is expected to be approximately 18,900 bopd.
Zhao Dong production in December averaged approximately 9,130 bopd, having been affected by intensive well maintenance activities, ongoing repairs to a failed subsea power cable between Zhao Dong and C-4 platforms and a requirement to comply with the 2009 annual production plan. Ongoing severe weather also experienced since late December continues to impact production, with interruptions to crude oil shipments constraining production in January 2010.
Production rates are anticipated to return to approximately 20,000 bopd by the end of January 2010. Production in 2010 is targeted at meeting or exceeding 2009 performance.
The 2010 drilling program has commenced with workovers from the C-4 platform. The program includes 19 new production wells and 5 injection wells. Plans for 2010 also include the installation of a gas pipeline and the initiation of gas export sales that will eliminate the need for gas flaring during normal operations.
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