The well was flowing naturally at up to 476 barrels of oil per day of good quality 100% oil from the Upper Jurassic J1-1 and J1-3 reservoirs
PetroNeft has re-ended the C-4 well on the Cheremshanskoye field. (Credit: Pixabay/Terry McGraw)
PetroNeft Resources has announced the re-entry of the C-4 well on the Cheremshanskoye field in licence 67 in Tomsk Oblast in Russia and the signing of an oil sales agreement for all oil produced from the licence.
From the Upper Jurassic J1-1 and J1-3 reservoirs, the well was flowing naturally at up to 476 barrels of oil per day of good quality 100% oil, the firm noted.
The company said it re-perforated the Upper Jurassic J1-1 & J1-3 clastic reservoirs from 2630.8m-2633.8m and 2644m-2655m, and tested at various choke sizes flowing naturally up to a maximum 476 bopd on a 10mm choke.
The well, to date, has produced 100% good quality 35º API oil with no formation water.
PetroNeft signs oil sales contract for licence 67
Following negotiations, PetroNeft has signed what it claims to be an “attractive” long-term oil sales contract for all oil produced from licence 67.
A total of 1,200 barrels of oil has already been sold and transferred to the refinery, the company noted.
PetroNeft Resources CEO David Sturt said: “We are extremely pleased with the C-4 well re-entry results. The ability for the well to produce good quality oil from the Upper Jurassic reservoirs at such rates without the need for a downhole pump is very encouraging and demonstrates the considerable potential of this field
“In addition to the successful re-entry, the ability to be able to sign an attractive oil offtake contract at competitive prices and discounted Mineral Extraction Tax rate applicable to this field further enhances the value of oil produced from this Licence.”
PetroNeft is assessing the current production information to decide on whether to build an all-season road to the C-4 well to enable year-round production.
Additionally, the firm is moving the workover rig from C-4 to the C-3 well on the southern margin of the Cheremshanskoye field, to assess the deeper Jurassic J-14 reservoir.