Addax Petroleum stated that two reservoir intervals were tested separately and flowed at an aggregate rate of 16,170 barrels per day of light oil with low gas oil ratio. In addition to the ongoing drilling program, Addax Petroleum and Genel have recently completed shooting 290 square kilometers of 3D seismic over the Taq Taq field.
Addax stated that the results of the drilling and seismic appraisal program are being integrated into a full field development plan which both firms expect to commence implementing in 2008.
The first stage of a full field development plan is expected to include an early production system with the goal of producing approximately 10 million barrels per day during the second half of 2008 from the field.
