MOL Group entered into a strategic partnership with TPAO by divesting 49% of shares in BaiTex in 2014, while remaining the operator. Baitugan is a mature and compact field with developed infrastructure, which supports low operational and development costs. The main target of the work program is to maintain production level with development drillings, workovers and infrastructure development projects.
FIELD DEVELOPMENT PROGRAM
To enhance production level and mitigate baseline production decline, intensive drilling program is ongoing. Only in 2018, 22 new wells have been successfully drilled and 104 well workovers have been completed. As a part of new Field Development Plan, full-scale geological and dynamic models have been made to improve well location selection and enable optimum field development. In addition to this, several infrastructure development projects are ongoing. Strong cost discipline has been achieved with production cost of only ~2 USD/bbl.
Priorities for upcoming years
Exploit remaining potential from the mature field by continuing the drilling and infrastructure development program and annual well-workover campaign. MOL Group continues to focus on the Baitugan Reassessment Project in order to maintain the production level and improve recovery.
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*Gross production number