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  • Actual production achieved reached 20٫469 MMSTB, versus 19٫766 MMSTB, which is 4% over the forecast.
  • In the area of development a total of one hundred one wells were drilled, seventy six wells as oil producers, and twenty five wells as water injectors to support the reservoir pressure.
  • Two hundred ninety five completion, recompletion, frac, ESP, sucker rod pump replacement, installation, water shut off and work over operations were performed.
  • Total Expenditures reached $ 417.85 MM versus $ 395.97 MM budgeted which represents 6% over the budget. Actual Exploration Expenditures reached $ 17.04 MM versus $ 56.75 MM budgeted. Total Development Expenditures reached $ 297.72 MM versus $ 243.24 MM budgeted. Actual Operating Expenditures reached $ 103.08 MM versus $ 95.98 MM budgeted.
  • The actual cost per barrel reached $5.04 versus $4.86 budgeted.
  • Renewal of OHSAS 18001 certification.
  • It is worth mentioning that such achievements were made as a result of the industrious of Qarun staff and the support of the Shareholders.

4 thoughts on “2011/2012 fiscal year has been a year of several successes for Qarun. These successes have been demonstrated in the following:

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