RE: 2.5 mill buy at end of day13 Nov 2024 08:42
There’s no deal to sell our oil. The company told us that’s not even been agreed - let alone drafted, ratified or signed.
The Cooperation Agreement with neighbouring operator, PetroChina Daqing Tamsag, is in near final form. It includes provision for the offloading, measurement, processing, export and sale of the Block XX production. All fees to be levied are in line with expectations and the only item remaining to be agreed is the administration fee to be paid to PetroChina.
Petro Matad's in-field operations team is at site and all logistical preparations are being made to be ready to start the transportation of produced fluids to PetroChina's facilities some 20 km to the north in Block XIX.
Petro Matad, PetroChina and MRPAM have all agreed to get Block XX production operations started ahead of the operational winter shut down in late November. Production, processing and export activities continue through the winter months
We have waited a long time to get the Heron-1 well into production and we are pleased to have reached this important milestone. We very much appreciate the support of the Ministry and MRPAM and the cooperation that PetroChina is providing