Manora production to peak in Q1 2015

Tap Oil Limited has provided an update on Manora Oil Development in the Northern Gulf of Thailand. The company says that as of yesterday (November 17) the production of 8,754 barrels per day (gross) is now flowing to the FSO and it is expected to peak in the first quarter of 2015. 

Manora production started on November 11, 2014 with two wells, MNA-01 and MNA-02, initially flowing at a combined rate of 2,200 barrels per day (gross).

Manora is now producing from three wells, MNA-01, MNA-02 and MNA-03.

Tap Oil says that MNA-01, MNA-02 and MNA-03 wells have now all reached stabilized production.  It is anticipated that production will ramp up to a peak of 15,000 barrels per day (Tap share 4,500 barrels per day) during the first quarter of 2015.

Manora is forecast to have an 11-year economic life, which could be further enhanced if discoveries are made within tieback distance. Some of these opportunities may be able to be drilled from the Manora platform, Tap Oil says.

MNA-05 well has been handed over to production. An additional five surface holes have been batch drilled and cased (MNA-04, MNA-06, MNA-07, MNA-08 and MNA-10).

Problems with well

MNA-06 encountered a problem while drilling the 12-1/4” hole section with the bottom hole assembly left in hole. According to Tap Oil, the Operator, Mubadala Petroleum, is planning to suspend operations on this well and will move on to drilling the reservoir section of well MNA-07.

The Manora A platform is located within the Gulf of Thailand in 46 metres 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.

Tap Oil says it has 2P reserves of 6.1 mmbbls (20.2 mmbbls gross) and 2C contingent resources of 3.2 mmbbls (10.9 mmbbls gross) booked for Manora. The company says it will review these reserves and contingent resources following development drilling and production performance.

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