Why Melbana Energy is Commencing Early Production and Spud of Alameda-3?

Melbana Energy Limited, an energy company operating in Cuba, is making significant progress in its Block 9 project. They have announced plans to commence early production from Unit 1B in the Amistad reservoir and to spud the Alameda-3 appraisal well in November 2023. These developments mark important milestones in their exploration and production activities.

Early Production and Stabilized Flow Rates:

Before commencing drilling operations for Alameda-3, Melbana Energy will start early production from Unit 1B in the Alameda-2 appraisal well. This decision is based on the favorable results achieved from Unit 1B, which demonstrated stabilized flow rates of approximately 1,235 barrels of oil per day. These flow rates are significantly higher than the average for vertical wells in Cuba, and it is expected that horizontal drilling in these reservoirs will further increase the flow rate. Additionally, the quality of the produced oil is noteworthy, with an API gravity of 19° and viscosity of 30 cP.

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This quality surpasses the average for Cuba and does not contain the usual sulfur, which can lead to price discounts.

Focus on Alameda and Marti Formations:

Melbana Energy's Executive Chairman, Andrew Purcell, expressed enthusiasm about the upcoming spud of Alameda-3. He highlighted that this appraisal well will help evaluate the oil previously encountered in the deeper Alameda and Marti Formations, which are considered the most prospective targets within Block 9. The company aims to gain a better understanding of the reservoir's characteristics through early production from Unit 1B before drilling Alameda-3. This early production phase will allow them to assess logistics and transaction processes, providing valuable insights for their field development plans in 2024. Melbana Energy plans to present these plans to their partners in the near future.

Productivity of Amistad Reservoir:

Melbana Energy also emphasized the productivity of Units 1A and 3 in the Amistad reservoir. These units, along with Unit 1B, will form an integral part of their development plan for the Amistad Formation. The company is committed to optimizing production from all these reservoir units to achieve the best possible results.

Overall, Melbana Energy's progress in early production and the forthcoming spud of Alameda-3 demonstrate their dedication to maximizing the potential of Block 9. By conducting further appraisal and exploration activities, they are positioning themselves for future success in the Cuban energy sector.

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