Armour Energy announces restart of oil production
OIL production along the Roma Shelf will be kickstarted from August, after Armour Energy Limited announced the acquisition of Kincora assets earlier this week.
The oil giant, which recently acquired Kincora assets in the Roma shelf in Queensland, is due to restart work at the Emu Apple oil field by August after purchasing the oil and gas interests from Origin Energy in 2015.
A spokesperson from Armour Energy said the restart work was progressing well, with the company expecting the works to be completed below budget.
“Surface equipment inspection and checks are in their final stages, including the installation of a new hydraulic system to operate downhole pumping,” the spokesperson said.
Armour Energy CEO Robert de Weijer said the company was evaluating its other oil production assets in the Surat Basin.
“Starting production from the Kincora assets marks a key milestone in Armour’s transformation from a pure exploration play to an exploration and production company,” he said.
“We are very pleased with progress we have been making at Emu Apple and we will be aiming to increase production from this field over the coming years based on the work programs we are currently developing.”
The Emu Apple field last produced at a rate of approximately 50 bpd in 2014.
Armour Energy previously aquired Roma Shelf assets from Origin for $13 million in September last year.