By OGJ editors
HOUSTON, Feb. 17 -- Santos Ltd., Adelaide, has revised downward the Mutineer-Exeter oil fields' proved and probable reserves to 61 million bbl vs. the 101 million bbl previously reported. The company also reported that initial production would begin in March, 3 months early.
The development lies 160 km off northwestern Australia within Exploration Permit WA 191-P in the Carnarvon basin, 150 km north of Dampier (OGJ Online, Jan. 8, 2004).
Four horizontal wells with dual electric submersible pumps have been completed, Santos said, which are expected to provide a high initial oil production output of 70,000-90,000 b/d. Early delivery of the subsea system and floating, production, storage, and offloading production facility facilitated the accelerated production date.
In confirming the downward revision of the development's oil reserves from its August 2004 forecast, Santos said further drilling in 2004 and early 2005 indicated that the reservoir distribution was more complex than originally interpreted and that the top of Mutineer field's main reservoir has proven to be deeper than expected in some parts, and the oil pay thinner in a number of key wells.
Despite the estimated ultimate recovery, 2005 production is expected to average 15 million bbl—more than was estimated at the time of development approval. In 2006 a mean production of 19 million bbl is expected.
Santos is operator for partners Kufpec Australia Pty. Ltd., Nippon Oil Exploration, and Woodside Petroleum Ltd. (OGJ Online, Jan. 8, 2004).