Third quarter average net working interest production was 4,7631 bopd, compared with 4,684 bopd in
the previous quarter and 5,113 bopd in the same period in 2023. During 2024 production efficiency
has been impacted by system instabilities from interruptions to third-party power imports,
commissioning activities, and a growing well workover list. During the third quarter, production
efficiency average improved to 86 per cent from the previous quarter average of 81 per cent. (For
reference, the 2023 average production efficiency was 92 per cent).<\/p>\n\n\n\n
The new gas supply line from Litanzi and Tchibeli to Tchendo 2 was completed during the quarter,
which provides for the new Tchendo 2 generators to be independent of third-party gas imports and
fully meet the power demands of the PNGF Sud field complex. The well workover list is declining, and
production efficiency improvement is therefore expected to continue in the fourth quarter. Additional
infill drilling activities are planned in 2025.<\/p>\n\n\n\n
As communicated before, the company has lifted and sold 914,268 bbls of oil for an average realised
price of USD 82.70 per barrel year-to-date. The next lifting is forecasted to be in the first quarter of
2025 with a year-end inventory of entitlement oil expected to be approximately 400,000 bbls.
The full account of production (including final allocation) will be presented in the interim report for
the third quarter of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"