Drillsearch Energy Ltd. confirmed that oil production from PEL 91 joint venture’s Bauer field in the Cooper Basin, Australia, has commenced following the initial commissioning of production facilities. Initial gross production has commenced at a rate of 800 barrels per day (b/d).
Production is being exported via a trucking operation to the Moomba Crude Oil terminal.
The PEL 91 joint venture has agreed to build an export pipeline from the Bauer facility to the Lycium oil hub. Pipeline construction is expected to commence later in 2012, with commissioning anticipated by year's end. Once the pipeline is commissioned, production is expected to increase to 5,000 b/d.
The PEL 91 joint venture consists of Drillsearch, 60%; and Beach Energy Ltd., operator, 40%.
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