Oil and gas firm Challenger Energy has started drilling work at the Saffron-2 appraisal well located in Trinidad and Tobago.
The two primary objectives of the drilling at the Saffron-2 well are to provide immediate production and cash flow, and to inform the most efficient way to develop the Saffron field.
Challenger anticipates a successful Saffron-2 to produce between 200 to 300 barrels of oil per day (bpd).
The Saffron-2 appraisal well follows the completion of the Saffron-1 exploration well, which was drilled in March 2020.
Following the drilling of the Saffron-1 well, the firm discovered oil in both the Middle Cruse and Lower Cruse reservoirs.
Challenger said that it learnt significant lessons during the Saffron-1 well drilling to inform the drill plan for Saffron-2 well.
Over the next 25-30 days, the Saffron-2 appraisal well is planned to be drilled to a total depth of approximately 4,500ft.
Challenger Energy CEO Eytan Uliel said: “The objectives of the Saffron-2 well are twofold. Firstly, to produce oil and generate cashflow in its own right, with a P50 projected production rate of 200bpd-300bpd and, more importantly, to inform the appropriate development plan for the Saffron field as a whole.
“Based on the Saffron-1 well discovery and subsequent studies, we believe Saffron is a field capable of growing to production in the range of 1,000bpd – 1,500bpd by the end of 2021, and which could ultimately achieve production rates of up to 4,000bpd in a full field development scenario.”
Subject to the successful drilling of the Saffron-2 well, the company plans to drill further five to nine production wells in the second half of this year.
The work forms part of an overall field development of up to 30 wells.