Albacora well re-opened off Peru

BPZ Resources has re-opened the A-14XD well in the Albacora I, Tumbes basin offshore Peru, after receiving Extended Well Testing (EWT) and gas flaring permits.

Jul 27th, 2010

Offshore staff

HOUSTON -- BPZ Resources has re-opened the A-14XD well in the Albacora I, Tumbes basin offshore Peru, after receiving Extended Well Testing (EWT) and gas flaring permits.

A-14XD, which was averaging 1,400 b/d of oil during June, was shut-in on July 12.

The permits are valid for six months and include limits on gas amounts flared during that period. BPZ believes that the allocated amount should allow the well to produce under the same conditions as before.

It intends to request a further EWT period later on to allow the well to remain open until gas reinjection equipment has been commissioned. BPZ is conducting an initial engineering study on Albacora to assess the equipment needs for this program, and how to transition the field into commercial production in order to minimize future interruptions caused by EWT regulations.

The company also awaits notification from Peru’s government concerning its previous application for EWT permits for the six wells in the offshore Corvina field.



07/27/2010

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