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Monday, 01 December, 2008, 23:50 GMT | more >>

AED set to hook up Puffin



By Upstream staff 

Australia’s AED Oil is set to reconnect the Front Puffin floating production storage and offloading vessel at the Puffin North-West development, off Western Australia, as the threat from Cyclone Nicholas passed.

AED shut in production at the project, which produces between 6000 barrels of oil per day and 10,000 bpd, late last week.

The outfit also said that it has received feedback from an independent technical advisor relating to various technical issues that have plagued the Puffin project recently.

The report said that there is a high likelihood of effective remediation of the Puffin-7 well, with the prospect of an initial increase in oil production by between two and three times existing levels.

“A remediation programme could be implemented on a cost-effective basis within an eight-week timeframe subject to procurement schedules,” said AED in a statement.

Improved drilling and completion design are feasible and readily achievable to ensure better long-term productivity for future Puffin North East wells, the report added.

AED became an investor favourite last year after it said it was likely to have up to 100 million barrels of recoverable oil at its Puffin and Talbot fields in the Timor Sea, up from an earlier estimate of 40 million barrels.

But its stock plunged from a record level in October following a November warning that technical problems could reduce production at Puffin North-East to well short of initial forecasts of 30,000 bpd.


Friday, 22 February, 2008, 06:56 GMT  | last updated: Friday, 22 February, 2008, 09:33 GMT

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