Block Energy plc announced that new well WR-B1a had produced below average target levels over the last eight days in West Rustavi, Georgia.
FRACTURED RESERVOIRS
Block has to date drilled three horizontal wells in naturally fractured reservoirs and acquired 3D seismic of the West Rustavi field.
The company said that following the interim installation of a rod pump, WR-B1a was currently producing 50 bopd which would generate $1 million cash revenue to Block per year.
“WR-B1a was deliberately drilled into a less fractured zone in an attempt to produce more stable oil production rates, and to minimise water production,” said Block in a statement.
“However, this resulted in oil production also being below targeted levels.”
JKT-01
Block added that following intensive analysis of 3D-seismic-survey, the JKT-01 horizontal hole would be drilled at a different orientation to that of WR-B1a to target the larger fractures.
Well JKT-01 side-track is fully funded and drilling is on course to start during the second half of November.
The company said that analysis indicated some eight million barrels of oil were present in this area of reservoir.
SIDE-TRACK
After JKT-01, Block will drill a low-cost side-track from WR-B1a to increase production to forecast levels.
Chief executive Paul Haywood that the company had leveraged the new data gathered from the well to enhance greatly the potential production rates from JKT-01 and subsequent wells.
“Our technical team’s new attribute analysis also supports the plan to return to WR-B1a, aimed at delivering production more in-line with initial expectations.”