Caspian Sunrise: Receives 25 Year Production License for South Yelemes
The Board of Caspian Sunrise is pleased to provide the following update:
South Yelemes
We have now received the 25 year production licence for the South Yelemes structure.
This allows existing wells to be re-opened, and the majority of production from the structure to be sold at international rather than domestic prices.
The structure lends itself to use of the horizontal drilling approach that is working so well on the MJF structure.
The South Yelemes production licence upgrade should also allow us to add to our proven reserves.
Production levels
The Board is also pleased to report that production from Well 153, which commenced production earlier this week, has increased to approximately 1,000 bopd. Taken together with the production expected from the existing South Yelemes wells the production capacity of the shallow structures on the BNG Contract Area is now approximately 3,000 bopd.
