Synergia reports progress at Cambay India well
Synergia Energy Ltd NPV
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16:55 20/12/24
Synergia Energy updated the market on its Cambay India operations on Friday, reporting that the C-77H well was continuing to produce on a “consistent plateau”, with gas rates between 255 million and 275 million cubic feet per day.
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The AIM-traded firm said the 1,450 metre column of gas condensate was persisting, and required an artificial lift solution to both remove fluids and enhance gas production.
It said it had engaged Wellynx - a “recognised leader” in completions technology - to design an artificial lift solution for the C-77H well.
“Wellynx has engineered a revised completion that incorporates a progressive cavity pump (PCP) and downhole pressure gauge to optimise well draw-down,” the board explained.
“The design is complete, and the company is sourcing the required components from accredited Indian suppliers.
“It is anticipated that the cost will fall within the existing budget.”
Synergia said it would advise the market on installation timing when the procurement process was finalised.
“It is the company's belief that the implementation of the artificial lift solution in the C-77H well will significantly enhance gas and condensate production.
“In addition, the implementation of artificial lift is considered to be an essential component of a full field development of the condensate-rich eocene reservoir.”
At 1219 GMT, shares in Synergia Energy were up 5.03% at 0.1p.
Reporting by Josh White for Sharecast.com.