DNO International Provides Operational Update on Activities in Oman
In Oman Block 8 the West Bukha-5 development well has been drilled to a depth of 4,213 meters, approximately 200 meters above the top of the target Thamama reservoir. The Company's forward plan is to drill into the top of the target reservoir, install a 7-inch liner and drill a 600-meter horizontal section in the Thamama.
The Company's combined working interest production has increased following the merger with RAK Petroleum PCL's Middle East and North Africa assets in January 2012 and is expected to reach 40,800 barrels of oil equivalent per day (boepd) in the first quarter of 2012, up from 34,600 boepd in the fourth quarter of 2011.
Offshore Oman, production from the Company's two operated fields is temporarily shut in as a result of blockage in the pipeline between the Bukha and West Bukha production platforms that occurred during routine pigging operations. Efforts are underway to resolve this situation but total downtime may be as much as four weeks.
The halt in export from the Tawke field in Kurdistan and the temporary closure of the Bukha and West Bukha platforms will result in lower production volumes in the second quarter of the year although overall cash from operations is currently not expected to be materially impacted.