The oil- and gas group PA Resources AB’s has decided on activities for 2010 regarding exploration, development and production, which together will lead to increased oil reserves and a higher production.
In the Republic of Congo, two appraisal wells are planned to be drilled at the Turquoise discovery in 2010, which will form the base for decision about field development. In addition, an exploration well is planned on the interesting Cobalt prospect.
The drilling of the first injection well at the Azurite field in the Republic of Congo has been completed and the drilling of the second production well has started. Thereafter yet another production well will be drilled. As previously announced, a total of nine wells will be drilled at the Azurite field during 2009 and 2010.
PA Resources' total production will more than double during the first quarter of 2010 when the Azurite field achieves its maximum output of 40,000 barrels per day in average, of which 14,000 barrels per day net to PA Resources. Meanwhile, the evaluation of the oil discovery at Turquoise continuous and a development scenario based on the existing infrastructure at the Azurite field is being developed.
