Block Energy plc posted “above forecast” production as work continues at its four onshore projects in Georgia. FARM-OUTS Project I targets the West Rustavi/Krtsanisi field for which the company’s internal contingent resources estimate for the entire field is 19.5 MMbbl 2C. Production “remained robust” with a July average of 534 boepd, while “select operational investments” […]
Tag: West Rustavi / Krtsanisi oil field – Georgia
Block starts production at WR-34Z
Production at 150 boepd began last quarter from Block Energy plc’s third well of project I in the West Rustavi-Krtsanisi field, onshore Georgia. OPPORTUNITIES The company’s quarterly report showed an average production during the third quarter dip to 630 boepd (Q2: 664 boepd). Gross production totalled 58 Mboe (Q2: 60.4 Mboe) comprising 44.3 Mbbls of oil and 13.6 Mboe […]
WR-34Z begins production ahead of KRT-45Z drilling at West Rustavi-Krtsanisi
Block Energy plc has started production from its third well, in the first of three projects, and is preparing to drill the fourth on the West Rustavi-Krtsanisi field, Georgia. TEST RESULTS The company said that the WR-34Z development well had been in continuous production for more than 19 days with test results showing an average […]
Block reaches total depth in sidetrack well
Block Energy plc said its in-house team had reached total depth in the WR-34Z sidetrack development well in the West Rustavi-Krtsanisi field, Georgia. DEVELOPMENT The well will be tested before coming into production alongside the first two project I wells, JKT-01Z and WR-B01Za. Drilled from an existing donor well, WR-34Z horizontally tracks the upper part of […]
Block spuds third project I development well in Georgia
Block Energy plc has started drilling its third Project I development well WR-34Z in Georgia. AGGRESSIVE PLAN Project I is the development of the Middle Eocene oil reservoir in the West Rustavi-Krtsanisi field Well WR-34Z is part of the development of the 3.01 MMbbl gross 3P reserves, with a net present value of US$57 million. Block […]
Block increases loan to $2m for Georgia drilling
Block Energy plc has increased its US$1.06 million loan, secured in February 2023, by $940,000 for its oil and gas operations in Georgia. DIRECTORS’ DEALINGS The funds will maintain scheduled liftings and accelerate procurement of materials to drill its next project I wells, the first of which is KRT-45Z, in the West Rustavi/Krtsanisi field. The […]