Oilex has reported better than anticipated results from its recently on-stream Cambay-73 field in India.
The company averaged 54 barrels of oil equivalent during 22 days from when production began last month and achieved 100% operational availability during this period.
Its condensate to gas ratio (CGR) is calculated to be 58billion barrels per cubic feet – 26% higher than the estimate used in an independent reserves report. If sustained over time and in other wells, this may have a positive impact on the condensate/light oil included in the reserves.
Since the introduction of gas from the Cambay field into the local low pressure network, the average daily demand has increased by 28% to approximately 320,000 cubic feet per day. In light of the increasing local gas demand, Oilex is considering some operational efficiencies to better service the market and encourage further demand growth.
Managing Director of Oilex, Ron Miller, said: “Ongoing gas production from Cambay-73 and increasing demand for domestically produced and competitively priced gas continues to support Oilex’s objective of achieving positive cash flow from operations in India during 2015.
“The availability performance of the Cambay-73 facilities to meet daily demand is particularly pleasing.”
Recommended for you
