Ascent Resources announces re-certification of export production pipeline


The board of Ascent Resources has announced that the export production pipeline that runs from the Petišovci field to the Croatian border has been re-certified at the operating pressure required for production.

This pipeline will be connected to wells Pg10 and Pg11A through the existing processing plant.

It would be used to transport and deliver produced gas from the Petišovci field to different parts of Croatia. 

The purchase order to connect the pipelines has already been approved and the planning work is currently underway.

" … We will continue to progress the remaining work programmes required to make the wells ready for production and look forward to revenues in early 2017."

Ascent Resources chief executive officer Colin Hutchinson said: “I am pleased that another task has been successfully completed and that the pipeline can be used without the need for refurbishment; we will continue to progress the remaining work programmes required to make the wells ready for production and look forward to revenues in early 2017.”

Two appraisal wells Pg-10 and Pg-11 were drilled in 2011 to a depth of 3,497m and 3,500m respectively. The data generated from the Pg-11 well helped the company to carry out the next phase and drill a production side track, Pg-11A.

Pg-10 and Pg-11A were both fracture stimulated successfully in the same year. It tested gas to the surface and discovered deeper, previously undrilled, gas-bearing Pg sand intervals.

Ascent Resources believe that this field has high levels of recoverable gas that can turn into a high-value asset for the company. 

In this project, Ascent resources hold 75% interest while Geoenergo owns the remaining 25%.