BPZ outlines drilling progress offshore Peru

Offshore staff

USA — BPZ Energy (NYSE: BPZ) has issued an update on development drilling on its fields offshore Peru.

In offshore block Z-1 (BPZ 51%), testing continues on the CX15-1D well on the Corvina field, which has been producing 430-535 b/d of oil from the third interval.

The second interval tested gas from the gas cap. A gas-lift valve has been installed at this level to assist oil production from the third interval. The first and fourth intervals remain to be tested. Drilling of the CX15-2D should be completed early in 2014. The Albacora 18D well reached TD of 12,600 ft (3,840 m) and was last week being completed after logs were run.