Poltava Petroleum starts production from Ukraine well

Poltava Petroleum Co. (PPC), a subsidiary of JKX Oil & Gas PLC, has started production from the IG149 well in Ignativske field, Ukraine.

The well is producing from the Devonian system. Logging results indicate a 29.6 m total net hydrocarbon thickness. At present only 3 m of the oil rim has been perforated with a total of 23 m of net hydrocarbon thickness remaining unperforated in the gas cap. This will remain unperforated at present to maximize oil recovery.

The well reached a maximum oil rate of 1,280 b/d with 19,000 cu m/d gas (1,391 boe/d) on a 30/64-in. choke. The well has averaged 777 b/d oil and 80,000 cu m/d gas (1,248 boe/d) with 1,139 psi wellhead pressure of over the first 10 days of testing.

IG149 was shut-in for a 36-hr pressure build-up test which confirmed insignificant depletion following the 10 days of production. The well has returned to production with a rate of 890 b/d oil and 77,000 cu m/d (1,340 boe/d) with 1,186 psi wellhead pressure on a 30/64-in. choke. Well production exceeds expectations. Further testing will be carried out to determine the optimum choke setting to maximize oil recovery.

PPC holds 100% interest in five production licenses in the Poltava region of Ukraine. PPC is the only non-state oil and gas company with a connection to the Souyez pipeline which transports gas directly into Ukrainian and European markets.