The last sentence below is a bit of a worry IMO but from a positive sense, I wonder if Petronas may wipe their hands of this one if the flow isn't worth the worry and hand the project over to OPSB in it's entirety?? Very high risk/high reward!!!
Intervention activities are ongoing, with the objective of restoring production. Nitrogen equipment has been mobilized to the Ophir Field and is in the process of being lifted to the platform. Nitrogen, because of its low density and high pressure characteristics, is commonly deployed in production operations to displace well fluids in order to initiate flow. Post-drill review studies are nearing completion and preliminary indications are for lower then expected oil production from the development. OPSB is in discussions with PETRONAS in regard to forward strategies for the field, including potential mitigation strategies.
OXX Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
