• Wednesday, 16 May, 2012

Oudna is stalled by rig dearth

 11 March 2005 00:02 GMT

Lundin Petroleum's Oudna oil project off Tunisia, involving a redeployed floater, could experience delays due to a tight rig market, writes Iain Esau.
Chief executive Ashley Hepenstall said that negotiations on the development with the Tunisian state oil company were still being finalised and that its 50% partner Sinochem was keen to get things

moving.

However, he stressed that Lundin is having "problems sourcing drilling rigs" for development drilling and that, while the project "will still go ahead, there is some potential

for delay."

Drilling of a production well to undergo a long-term test is due to start this year with first oil set for late 2006, although Hepenstall's comments suggest the on stream date is likely to slip to 2007.

Production is expected to reach 20,000 barrels per day from a field containing just 9.5 million barrels of oil.

Oudna will be developed by redeploying the Ikdam floating production, storage and offloading vessel the ownership of which is split equally between Lundin and Norway's PGS from Lundin's nearby Isis field. Additional production may be achieved by bringing on stream the nearby Birsa discovery as a subsea tie-back to the floater.

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