"Since the last news release on the 29 January 2013, when the Company announced that it had reached a significant milestone of producing 200 barrels of oil per day in Trinidad, the Company has been preparing additional wells in readiness for the arrival of the new pumping equipment, the company said in a media release.
It added that it anticipates that 10 new wells will be put in to production over the coming weeks, increasing the number of wells operating by approximately 50 per cent to over 30 wells. This is expected to result in another significant step up in oil production from the field, LGO said.
A further 10 pump jacks are also on the order and should arrive in Trinidad in late April, with an additional 10 pump jacks expected to arrive in June.
The Goudron Field has approximately 90 wells suitable for production and this program of well reactivation will continue through 2013, LGO said.
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Over the next month LGO also expects to carry out the first of a number of planned well re-completions.
The first well is targeting over 65 metres (200 feet) of additional reservoir in a perforation program using modern methods. This will be the first program for 30 years intended to access new reservoir in the field since well GY-658 was drilled in 1981.
"It is anticipated that this work will both raise overall oil production and provide valuable information to assist in designing the next phase of the work program, which will lead to the drilling of new wells in the second half of 2013," the company said.