Petro Matad has announced the commencement of completion operations on its Heron-1 oil discovery. The work, which began on 22 July, involves PetroChina’s well completion subsidiary DQE and Petro Matad’s team.
The update follows a recent fund raise which the company says will see them through to first production from their Block XX field.
The planned operations include a reservoir stimulation process to enhance near wellbore drainage and the installation of downhole production equipment. These activities are expected to conclude by mid-August.
Following the completion operations, the company will prepare the wellsite for surface production equipment installation, slated to begin in August. Once the surface equipment is connected and commissioned, the Heron-1 well will be ready for production start-up.
Petro Matad has scheduled meetings with the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) and PetroChina’s in-country management team before the end of July. These discussions aim to finalise cooperation agreements, allowing Petro Matad access to PetroChina’s oil processing facilities, transport, and oil sales infrastructure.
Investors will eagerly await further updates, and the company has committed to providing further updates as its 2024 work programme progresses.