Business
Operational and Corporate Update
Operational and Corporate Update.
About this update from Block Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9418Z\n Block Energy PLC\n 24 September 2020\n \n \n \n 24 September 2020\n Block Energy Plc\n (\"Block\", the \"Company\" or the \"Group\")\n Operational and Corporate Update\n Block Energy plc, the exploration and production company focused on Georgia, is pleased to announce the following operational and corporate update. Significant operational progress has been made at the Company's Early Production Facility (\"EPF\") with first gas on schedule for Q4 2020, with the acquisition of Schlumberger Rustaveli Company Limited (\"SRCL\") continuing towards completion. Block also announces the intention of Mr Roger McMechan to step down from the board of directors, and the initiation of a search for a senior independent director and an independent non-executive director to join the Company's board.\n West Rustavi\n The Group's EPF, a key component in enabling the Company to process and sell gas from its West Rustavi field, arrived on site from Canada in June. Since then, and despite COVID-19 restrictions affecting both international and domestic travel, the EPF has been installed on the WR-16aZ well site. The WR-16aZ well has been connected to the EPF's inlet manifold and the EPF has been commissioned with continuous production of dry gas for 25 hours.\n Construction of the gathering line between the EPF and WR-38Z commenced on 11 September 2020 and is due to be completed by the end of October 2020. The steel flowline has an internal diameter of 75mm and will be buried for its full length of 3.5 km. Once the WR-38Z well has been tied into the facility, the EPF will then be ready to process oil and gas from the two West Rustavi wells. The EPF is currently rated to handle up to 3 MMCF/d, but can be expanded and it has inlets for four additional wells.\n As announced on 7 April 2020, Block suspended production from its two West Rustavi wells in response to the low oil price, COVID 19 restrictions and to conserve valuable gas reserves. Bago is completing the final stages of the permitting process to enable it to construct its gas sales pipeline. Bago expects to have the pipeline completed in Q4, enabling gas sales to commence before the end of this year.\n Norio and Satskhenisi\n \n The Company continues to produce oil from its Norio and Satskhenisi licences and, during August 2020, it sold crude oil from i...