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BG Group delivers final milestone for 2013 as Itaú starts production

BG Group
19/12/2013 18:48
BG Group delivers final milestone for 2013 as Itaú starts production Imagem: BG Group Visualizações: 1063 (0) (0) (0) (0)

 

Lundin Petroleum reported Thursday that it has completed the exploration well 16/2-20S in the Norwegian North Sea, with results suggesting the Torvastad prospect is in contact with the Johan Sverdrup discovery. Lundin said that the well found a lower Cretaceous/upper Jurassic sequence with poor reservoir properties of approximately 78 feet above a water-bearing upper Jurassic Draupne sandstone sequence of approximately 33 feet of "excellent quality". 
The Draupne sandstone came in deeper than expected but appears to be the same sequence encountered in all Johan Sverdrup wells, the firm said. Now, Lundin plans to drill a side-track well near 16/2-20S, approximately 2,525 feet west of it.  This well will investigate the potential of an up-flank continuous Draupne sandstone and establish an oil-water contact. 
The 16/2-20S well, on production license 501, was drilled to a total depth of 6,792 feet by the Island Innovator (mid-water semisub) rig. Lundin is the operator of PL501, with a 40-percent interest. Statoil and Maersk Oil Norway hold 40 percent and 20 percent respectively. 

BG Group today announced the start of commercial gas production from the second phase of the Itaú development in Bolivia, marking the delivery of the final key milestone set for the Group in 2013. With first production from Itaú Phase II, BG Group has delivered its promise to bring into production new oil and gas projects in Brazil, the UK, Thailand and Bolivia and to complete large planned maintenance campaigns on core assets in Kazakhstan and the UK.

 

This announcement follows delivery earlier this week of another major project milestone in Australia, with first gas transported onto Curtis Island, the site for the Queensland Curtis LNG project’s liquefaction plant.

 

BG Group Chief Executive Chris Finlayson said: "In February we set clear yet challenging milestones for the year as we focused on safety and excellence in execution. With first commercial production from Itaú Phase II we have now delivered all the milestones we promised, the product of hard work and dedication by the people working across our business. We have achieved what we set out to do, and importantly we have done it safely."

 

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