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Matra confident over Russian, Hungarian operations

Matra Petroleum is set to ramp up productivity at its wells in the Russian Sokolovskoe discovery following the start of production at the site last December.

The oil and gas E&P company focused on Central Europe and Russia said today that its Arkhangelovskoe-12 well was already producing around 100 barrels of oil per day (bopd) and was scheduled for reperforation and acid stimulation within the next two weeks in order to improve productivity.

Further drill testing and 2D seismic surveys are also being conducted in parts of the Sokolovskoe discovery, the company said.

In Hungary, Matra has completed testing on Horvátkút-1, a re-drill of an old discovery on the Inke Concession, but found the well unlikely to be economic. However the company said other Hungarian sites in its Direct Hydrocarbon Indicators (DHI) program looked promising.

Peter Hind, Matra's managing director said: “It's been a busy start to the year and we expect activity to increase throughout the year with more wells in both Russia and Hungary.” (smallcapnews)