EGN - Europa Oil & Gas to boost Wressle-1 output with jet pump
(NewsDirect)
Europa Oil & Gas (Holdings) PLC(AIM:EOG) CEO William Holland speaks to Thomas Warner from Proactiveafter announcing the commencement of operations to install anartificial lift on the Wressle-1 well.
The exploration and production company is installing a jet pumpon the Wressle-1 well, a departure from traditional beam pumps.Holland explains that jet pumps utilise the Venturi effect, boostingfluid flow and maintaining pressure differentials for increasedproduction.
This move enhances oilextraction efficiency, countering the well's natural decline.Holland clarifies that this is not a sign of the well's end, but astrategic step in its lifecycle, anticipating a substantial outputfrom it. Regarding the broader Wressle field, Holland says that Europais progressing with planning and permitting, and is expectingapprovals for development. The company aims to tap into the lucrativePenistone formation, with drilling operations planned for the nextyear.
Holland also addresses the debate surrounding UK oil andgas fields, advocating for domestic production to reduce emissions andboost the economy. He highlights the industry's expertise and thecompelling argument for homegrown energy.
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