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Wednesday, January 10, 2024
PetroNor E&P has provided a production update on its Congo operations related to the PNGF Sud field complex as follows:
Fourth quarter average net to PetroNor production was 5,319* bopd, compared with 5,113 bopd in the previous quarter and 4,688 bopd in the same period in 2022, yielding an average full-year production of 5,168* bopd for 2023. December production was lower than capacity due to a 3rd party generator shut down yielding less power available for PNGF Sud. Going forward, with the planned commissioning of the Tchendo 2 platform in 2024, PNGF will become independent of external power import.
Forecasted activities in Q1 include a probable lifting and sale of the Company’s inventory of entitlement oil of over 300,000 bbls. In addition, drilling operations for the previously announced Tchibeli NE well to the Vandji Formation are expected to begin. Further details will be issued when available.
The full account of production (including final allocation) will be presented in the interim report for the fourth quarter of 2023.
*Final production allocation for the months of October and November, preliminary production allocation for December.
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