FCP’s three previous wells in the block have combined flow rates in excess of 77,000 barrels of oil equivalent a day and the fourth is expected to add substantially to that as five hydocarbon-bearing zones have been identified.
The development foresees investment of $700 million to establish a 650 million-cubic-feet-a-day (cf/d) processing plant for natural gas and natural gas liquids (NGL). The award of front-end engineering and design (FEED) and engineering, procurement and construction (EPC) contracts are expected in 2004, with first production due in 2007. Estimated recoverable gas reserves from block 405b are 5.7 trillion cubic feet (MEED 7:11:03).
Recently the Calgary-based firm acquired and interpreted an area 600 square kilometres of 3D seismic west of the MLE field.