Low Output from Cambodia’s First Offshore Oil Field Hits KrisEnergy’s Restructuring Plans

Production from the Apsara field, Cambodia’s first producing offshore oil field, has been below expectations, and will almost certainly not meet the pre-development forecast of peak production of 7,500 bopd, according to KrisEnergy, the operator of the project. The field’s underperformance will also affect KrisEnergy’s restructuring efforts.

KrisEnergy, which brought the offshore oil field online in December 2020, had expected the field to provide the cashflow necessary to fund the ongoing operations of the group, however, results from the wells brought online so far are not what was expected.

As at 30 March 2021, the gross production rate at the Apsara field was 2,493 barrels of oil per day (“bopd”) and the average gross production rate for the field for the 23 February 2021 to 30 March 2021 period was 2,883 bopd, KrisEnergy said.

In full: https://www.oedigital.com/news/486490-low-output-from-cambodia-s-first-offshore-oil-field-hits-krisenergy-s-restructuring-plans

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