Exploration & Production
Buru Energy Update Ungani Progress
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Buru Energy Limited (Buru) has provided the following update on the Company’s operations.
Summary Production of oil in the Ungani Central Field area continues solidly with 74,000 bbls of oil produced from Ungani 2 since the Extended Production Test (EPT) recommenced in December with zero water cut and no pressure depletion, which significantly exceeds modelled expectations of reservoir performance. The second 38,000 bbl shipment of crude has been exported from Wyndham on schedule and budget. Terms for the third shipment to be sold into Singapore have now been concluded. The Ungani 3 appraisal well was completed in March. Whilst the Ungani 3 well penetrated the top Ungani Dolomite 20m higher than Ungani 1 and contained an oil saturated Ungani Dolomite section over a 70m interval, the…- ✓ Full news archive — U.S., Canada & international coverage
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