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Stuart managing director Tino Guglielmo said the Worrior-5 and 6 oil development wells have increased output at the field from under 1000 barrels of oil per day to more than 3000bopd.
“Production for the 2007-08 year is likely to exceed the 523,000 barrels of oil produced in 2006-07,” he said.
“Stuart is targeting a full-year production outcome in the range of 500,000 to 550,000 barrels of oil.”
Stuart’s 2007 drilling campaign, comprising five exploration wells and two developments, concluded with the Cleansweep-1 oil discovery, which is being completed for production.
Two of the five exploration wells – Cleansweep-1 and Comic-1 – resulted in discoveries, while a third well Doriemus-1 needs further testing to determine its hydrocarbon potential.
“The reserves impact of the strong Worrior-5 and 6 well performance and the new discoveries at Cleansweep and Comic will be assessed prior to December 31,” Guglielmo said.
