(Sharecast News) - Georgia-focussed development and production company Block Energy updated the market on operations at its West Rustavi field on Monday, reporting that production from the WR-38Z and WR-16aZ wells had now restarted.
The AIM-traded firm said the wells had been brought back online safely, with oil and gas flowing through the new in-field flowline to the company's early production facility in the West Rustavi field at the WR-16aZ wellsite.
In the facility, gas was being separated from the crude oil before entering the gas sales pipeline, which is owned by Bago.
Bago had carried out the final testing of its facilities using gas provided by Block, and was now completing the final steps required to tie back into the main gas pipeline, which is owned by the Georgia Oil and Gas Corporation.
Gas sales will begin within a day of the tie back being completed, and Block said it would provide an update to the market once sales have begun.
"Production from the wells remains stable and consistent with the production rates achieved before they were shut-in in April," said chief executive officer Paul Haywood.
"We continue to make regular sales of our crude oil inventory to local buyers and I look forward to providing a further update about the commencement of gas sales to the market shortly."
At 1123 GMT, shares in Block Energy were down 7.65% at 3.14p.
Block Energy P. (BLOE)23 May 2024 17:27
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