Woodside Announces Oil Production at Vincent Project
Posted on: Thursday, 28 August 2008, 09:01 CDT
Woodside Petroleum has announced that production has begun from the company-operated Vincent oil project off North West Cape, Western Australia.
Vincent is in production license WA-28-L and has estimated recoverable reserves of about 73 million barrels of oil. It was discovered by Woodside in 1998 and is being developed in phases.
The hook-up, testing and commissioning of the Maersk Ngujima-Yin floating production storage and offloading facility has been completed, and over the coming weeks production is expected to increase steadily.
Field production rates are expected to ramp up to 50,000 barrels of oil a day and naturally decline to about 40,000 barrels of oil a day by the end of 2008, after which production from additional wells is expected to supplement the decline in production.
Source: Datamonitor
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