Philippines: Tindalo Operations Update

Business & Finance


Nido Petroleum Limited (Nido), as Operator of Service Contract 54A (SC 54A),  advised that the Tindalo-1 well intervention and remediation programme has commenced.

Since the previous update on 30 August 2010:

 The support vessel M/V Pacific Ariki arrived at the Tindalo location on 5 September with the items necessary for the well intervention and equipment and materials are being transferred from the support vessel to the rig;

 The Tindalo-1 well has now been shut-in and re-entry operations have commenced;

 Diagnostic logging will be undertaken early in the programme to determine the selection of the most appropriate option to remedy the water influx into the well; and

 The well intervention and remediation programme is scheduled to take 10-17 days to complete.

Other operational highlights include:

 Some 196,000 barrels of oil (@60°F) are now in the storage tanks of the FSO; and

 The offtake of the first cargo is currently scheduled for 16-18 September, subject to weather.

Nido will provide a further update on the progress the in-field operations once the results of the diagnostic logging have been analysed.

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