LONDON (Alliance News) - Range Resources Ltd, an exploration and production company dual listed in London and Australia, on Tuesday said injection on the flagship Beach Marcelle waterflood project is underway, in an update on its waterflood projects in Trinidad.
Two injector wells are being used to inject water, Range said, at an average initial rate of approximately 600 barrels of water per day, which is intended to gradually increase as additional wells and surface facilities are commissioned.
Waterflood injection on the Morne Diablo project is continuing, with water rates increased to the maximum volume of water currently available, the company said.
Meanwhile, agreement was reached with Petrotrin to access additional water supply for Morne Diablo project with contracts to be signed shortly.
"I am extremely pleased with the commencement of injection on our second waterflood project. Beach Marcelle is the largest waterflood project to be implemented in recent times in Trinidad and the team has been working tirelessly to bring it on line. It will be key to our production growth in the coming years, with first production from this project expected at the beginning of next year," Chief Executive Officer Yan Liu said in a statement.
Shares in Range were down 1.0% at 0.470 pence Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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