Fortune Oil & Gas Inc., through its wholly owned subsidiary, Indo-Pacific Resources (Java) Ltd., Operator of the Bawean Production Sharing Contract in Indonesia's East Java Sea, has commenced a comprehensive production enhancement program in its Camar Oil Field.
Mr. Mark Greenwood, Managing Director of Indo-Pacific Resources (Java) Ltd. advised that: "on Monday July 29th and with the initial study and planning stages complete, the remedial work crew was deployed to the Field". He further stated: "now that our objective of planning out the remedial work program is complete and the expansive work program underway, it is expected that improved daily production results will be generated from our producing wells".
Mr. Greenwood went on to state: "this remedial work will include measures to reduce the hydrostatic pressure at the bottom of the wells allowing oil to flow more freely from the reservoir". "It will also include various descaling procedures". "This program is expected to result in an immediate increase in production". "Given that the oil producing zones in the Camar Field are in a limestone formation, scale build-up has long been known to be a factor." Mr. Greenwood went on to say: "We will attempt to remove the scale through mechanical means initially, and if necessary, use hydrochloric acid or diesel fuel to remove any that remains."
Fortune anticipates that these phases of remedial work will take twenty to thirty days to complete.
Mr. James Wensveen, Fortune's Chief Executive Officer stated: "It is expected that this enhancement program will significantly add to our current levels of production". Mr. Wensveen concluded by stating: "This is a very important step for Fortune Oil & Gas, Inc. and marks the start of the implementation of a major program of remedial work designed to optimize the potential of the Camar Field in both the short and long term".
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