Offshore staff
SINGAPORE – Well performance from KrisEnergy’s Apsara Mini Phase 1A oilfield development offshore Cambodia has been below expectations.
The field came onstream last December, with five wells in operation by late February, reaching a peak of 3,534 b/d last weekend.
Mini Phase 1A was designed as an initial small-scale project in order to assess reservoir performance in the previously unproduced Khmer basin, and to gather production and subsurface data to determine the long-term potential of the Apsara area.
Analysis to date suggests the reservoirs encountered in the five development wells are less productive and continuous in nature than anticipated compared with results from the original appraisal wells, so the forecast peak production of 7,500 b/d will not be achievable in the current phase.
Ultimate recovery from the five wells will likely be significantly lower than pre-development expectations. These were based on a static model derived from geological, geophysical and petrophysical data compiled from studies, seismic interpretation, well logs and rock samples, and a dynamic model for flow and production incorporating productivity data from prior appraisal well flow tests.
Netherland, Sewell & Associates will assess the ultimate recovery from the current five wells.
KrisEnergy had counted on Mini Phase 1A to provide the cashflow needed to fund its ongoing operations of the group. Now, however, the company may struggle to complete its restructuring exercise and continue as a going concern.
04/01/2021
