Serinus Energy makes good operational progress in Romania and Tunisia

Serinus Energy updated the market on its operations on Monday, reporting that in Romania, the commissioning of the Moftinu gas plant had proceeded as planned with a 30 June daily production exit rate of 10.3 million standard cubic feet per day (mmscf/d), with condensate production above expectations and minimal water production within expectations.

The AIM-traded firm said the gas plant performance had been within operating parameters, with stable throughput provided by both the Moftinu-1003 and Moftinu-1007 wells.

Both wells were said to be performing according to expectations.

The company said it would continue to monitor the chokes for both wells in order to ascertain the maximum stable production that could be achieved for those wells.

Given the performance of the gas plant, Serinus said it was proceeding to open and flow the Moftinu-1000 well following a slickline operation planned for mid-July.

As it had previously announced in a company release on 30 January, the Moftinu-1000 well was reperforated and tested for an extended test period at a production rate of 1.96 mmscf/d.

“All gas sales from Moftinu have been sold under the previously announced gas sales agreement with Vitol,” the board said in its statement.

“As plant production and operations have stabilized, the company has moved from daily sales to monthly volume nominations under this agreement.”

The permitting of the previously-announced 3D seismic survey over 148 square kilometres of the Satu Mare concession was ongoing in Romania, Sernius added.

That 3D seismic program was to the north of the Moftinu 3D area, with sufficient overlap to allow for the two surveys to be merged during processing.

The firm said it hoped to identify amplitude-supported shallow gas fields in which to target future exploration drilling, and replicate the success at Moftinu.

In Tunisia, Serinus Energy said the reopening of the Chouech Es Saida field in the south of the country was progressing as expected.

Following “extensive” clearing of sand from the road and surface facilities, the firm said it started the first well workover on the CS-3 well on 27 June.

“This workover is expected to take two weeks and includes the installation of a new electrical submersible pump,” the board explained.

“Once completed, the CS-3 well will be brought onto production and the workovers of the other three wells will be performed sequentially.

“The company anticipates that all Chouech wells will be on production by the end of August.”

Serinus said the Sabria field was continuing to perform in line with management expectations, with an operational and production update to be released at the time of the first half results in August.