Authorities allow BPZ to re-open Albacora well - Peru

US oil firm BPZ Resources (NYSE:BPZ) has reopened the A-14XD well on its Albacora field in Peru after receiving permits for extended well testing (EWT) and gas flaring from authorities, the company said in a statement.
The A-14XD well was closed earlier this month after averaging production of around 1,510b/d during 2Q10.
The permits are valid for the next six months and are subject to gas flaring limits. The firm believes that production will remain around current levels.
BPZ is awaiting further EWT and flaring permits for an additional six wells on the Covina field. The firm announced the discovery of 75f (22m) of net oil and gas pay at the CX11-22D well on Corvina earlier this month.
Both the Corvina and Albacora fields are located on the offshore BZ-1 license. Second quarter production from the BZ-1 license fell 46% from the previous quarter due to the closure of wells lacking permits.