In the first quarter, PetroNor E&P's average net working interest production from PNGF Sud field complex in Congo was 5,025 bopd
This comes after 5,295 bopd in the previous quarter and 5,237 bopd in the same period in 2023.
Production efficiency during the quarter averaged 84%, which is lower than normal (92%) due to third party power import interruptions and planned shut-downs associated with the laying of a new gas line from Tchibeli NE to Tchendo.
Commissioning of the new Tchendo 2 platform is ongoing and estimated to complete approximately end April.
When operational this platform will effectively make PNGF Sud independent of power import and is expected to improve overall production efficiency.
The Axima rig started drilling the new Tchibeli NE infill well on 8 February. The well was successfully drilled to a total depth of 4,248 mMD and encountered oil bearing sandstones. The well has now been completed and put on production 6 April. Reservoir properties from logs were as expected in the prognosis. The well is currently being production tested.
330,572 bbls of entitlement oil were lifted and sold from the Djeno Terminal in February 2024, generating a cash inflow of USD 27.4 million at a realised price of USD 82.87 per barrel.
An additional lifting is scheduled on 21 April.
