Sinochem, Sweden's Lundin Petroleum start production at Tunisia offshore oil field

BEIJING (XFN-ASIA) - State-owned Sinochem Corp and Sweden's Lundin Petroleum AB said they commenced production at the Oudna oilfield offshore Tunisia on Nov 11.

Production is from a single production well supported by a water injection well both tied back to the IKDAM Floating Production Storage Offloading (FPSO) vessel.

Initial output is over 8,000 bpd and is expected to increase to 20,000 bpd following the start-up of artificial lift operations, it said.

Proven and probable reserves of the Oudna field are 11.5 mln barrels of oil.

Lundin Petroleum and Atlantis Holding Norway AS, a subsidiary of Sinochem Corp, each hold 50 pct of the Oudna field, with Lundin Petroleum the operator.

ETAP, the Tunisian state oil company, has an option to buy 20 pct of the Oudna field which may be exercised up to 120 days from the commencement of production.

'The production start-up of the Oudna field shows Sinochem's exploration and production business entering into a new development phase. Sinochem is willing to cooperate with our partners and develop more oil fields in Tunisia and worldwide,'' said Han Gensheng, vice president of Sinochem Corp.

Sinochem Corp is the parent of Sinochem International Co Ltd (SHA 600500) and Sinochem Hong Kong Holdings Ltd (HK 0297) - China's largest fertilizer importer.

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