AIE Update June 25/12 Spanky. As per the IAE update,the well workover,if required, is sheduled for a rig based workover towards the end of this year. As of today the FPOS BW Athena is sitting like a Bump on a Log on the Athena Field,while, the Betty Knutsen,the sheduled oil shuttle tanker for the FPOS is anchored in Norway. IMO,Morning star or whoever is handleing Investor Relations should clarify what the H*LL is going on with this side show.
See Below
Athena Operations Update: The operational programme since start-up has been focused on achieving full and stable production from the four production wells and processing plant on the BW Athena floating production, storage and offloading vessel ("FPSO") and assessing the potential of the wells and the optimal production rates for the maximisation of oil recovery from the field over the coming years. The execution of these operations has progressed as planned. All the production facilities are now fully commissioned and the BW Athena is operating as designed, with continued well optimisation activities ongoing. The first cargo of crude has been transferred from the FPSO to the storage tank at the Ithaca operated Nigg oil terminal using the Betty Knutsen shuttle tanker. Currently only three of the four production wells on the field are flowing as a result of a suspected downhole restriction in one of the wells. Testing has shown that there are no issues with the integrity of the well or performance of the reservoir in the area of the field drained by the well. The changeable flow rates achieved from the well during testing indicate that the restriction is likely attributable to a blockage in the production tubing located within the well. Diagnostic work is ongoing to identify the nature of the blockage and the most effective course of action for eliminating it. Gross production from the field is currently approximately 12,000 barrels of oil per day ("bopd"), 2,700 bopd net to Ithaca with three producing wells. Meanwhile, water injection is online to support the production wells. Based on the data obtained, the gross production potential of the restricted well is approximately 5,000 bopd, 1,125 bopd net to Ithaca. The Company is currently evaluating remote intervention methods to restore the restricted well to its full production potential. This includes use of the existing facilities to hydraulically overcome the obstruction. If these methods are not successful, a rig based workover may be required. In that case, the workover is anticipated to be conducted towards the end of this year.