Post Tagged with: "AWE"

AWE Completes Subsea Tie-back

AWE Completes Subsea Tie-back

AWE has successfully completed the tie-back of well offshore of New Zealand Australia’s AWE Limited (ticker: AWE) announced that it has completed the subsea tie-back and installation to connect the Pateke-4H development well to the Tui area oil fields gathering system. The company began flow testing the well to determine the optimal well settings. According to the company’s press release, the well recorded an initial unstabilized flow rate of 34 MBOPD at 67% choke and a 48% water cut, which the company says is in line with field modelling. AWE plans to stabilize the well at a much lower flow rate in order to maintain long-term production. Bruce Clement, AWE Managing Director, said, “The successful tie-back and commissioning of the Pateke-4H well represents the final stage of development for the Tui project, which has been a cornerstone production asset for AWE for almost a decade.” Clement also added that the[Read More…]