Prospex awards well workover work in Spain
London-listed Prospex Energy has awarded well intervention and other optimisation work at its gas-to-power project at El Romeral in south Spain, the company said on October 1.
The company issued a contract to Italy's Dajan Well Services for the well workover work worth €103,000 ($119,000). The work is due to commence on October 18. Prospex has also provided a contract to Spain's Power Solution Iberia to automate operations at its gas power plant at the site, enabling its generators to work continuously. This work will take place during a planned shutdown in October, and will cost €71,000. It is expected to increase revenues from power generation by up to 65%.
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Prospex bought a 49.9% stake in the El Romeral project in March. Its partner is Australia's Warrego Energy with a 50.1% position. In the longer term, Prospex has said it sees "significant development potential" for more gas at El Romeral.