As of Jan. 11, the Manora oil development in the Northern Gulf of Thailand is producing 11,198 bbl/d and is flowing to the FSO, Tap Oil Ltd. (30% interest) said.
Production commenced Nov. 11, 2014 with two wells, MNA-01 and MNA-02, initially flowing at a combined rate of 2,200 bbl/d. Manora is now producing from five wells, MNA-01, MNA-02, MNA-03, MNA-05 and MNA-07.
Both MNA-07 and MNA-04 have now been completed with MNA-10 awaiting completion.
MNA-07 is the first production well drilled in the east fault block and has been completed with an ESP pump and smart completion. MNA-04 and MNA-10 are injector locations in the Manora Oil Platform with drilling rig over the top, and Jaya Installer accommodation barge alongside.
Pressure measurements in both wells confirm reservoir connectivity to the producing wells, which is positive for water injection success. The company previously advised that MNA-06 encountered a technical problem while drilling and has been plugged and suspended. An assessment will be made at the end of the development drilling program as to whether a re-drill will be required.
Drilling has now commenced on the MNA-09 injector well in the central fault block and once this is drilled to final target depth the MNA-08 producer well in the east fault block will be the next well on the drilling schedule. After drilling MNA-08 to final target depth, MNA-08, MNA-09 and MNA-10 will be batch completed.
It is anticipated that production will ramp up to a peak of 15,000 bbl/d (Tap share 4,500 bbl/d) during the first quarter of 2015.
During 2015, Tap forecasts a net cash flow from Manora of US$40 million to US$60 million with oil prices between US$55/bbl and $65/bbl. This is after forecast Thai taxes, royalties and operating costs, but before repayment of debt.
The Manora A platform is located within the Gulf of Thailand in 46m of water. The development drilling program calls for drilling and completion of up to 15 wells (10 producers and 5 injectors), with the program expected to take until the end of Q1 2015.
The operator, Mubadala Petroleum, estimates that the joint venture will have invested approximately US$300 million in the development by this time.
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