Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/central-petroleum-approve-the-first-stage-of-devel.shtmlCentral Petroleum approve the first stage of development of the Surprise discovery
Central Petroleum Ltd's Board approved the first stage of development of the Surprise discovery.
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Central Petroleum Ltd's Board approved the first stage of development of the Surprise discovery. The approval followed 6 months of detailed internal and external studies which concluded that Surprise West should be developed independently of Surprise East, which will be developed in 2 stages.
The development of Surprise West Stage 1 has been estimated to take approximately 3 months to complete. The work will include the re-entry of Surprise #1, for pump installation and the construction of a Production Facility to increase the present capacity to 5,000 barrels of oil storage with 2,000 barrels of water separation capacity. The economics indicated the $5 million capital will be paid back within around 9 months.
