Page 15 - LatAmOil Week 06 2023

LatAmOil NEWS IN BRIEF LatAmOil

2022 Proved Developed Producing (PDP) operator of the block, and its partners are PC operations are completed.
reserves increased 49% to 24.1mn barrels, repre- Carigali Mexico Operations (PCCMO), Win- Paul Baay, President and CEO, commented:
senting 53% of 1P reserves, reflecting an attrac- tershall Dea, and PTTEP. “The Royston-1 well drilled in 2021 showed tre-
tive ratio of base production to low-risk drilling DORIS, 07 February 2023 mendous potential, flowing significant volumes
proved undeveloped (‘PUD’) targets; and 2P of 33-degree API oil from both the overthrust
Future Development Capital (FDC) increased Touchstone announces and intermediate sheets; however, mechanical
40% to $404mn from year-end 2021 reflecting challenges prevented meaningful production
an additional 7 wells booked at year-end 2022 commencement of Royston- from the well. The challenges encountered at
and associated water disposal capacity and facil- Royston-1 and the lessons learnt have helped
ities needed to accommodate higher anticipated 1X operations us to design a drilling plan to optimally evaluate
flush and run rate production volumes. the Herrera Formation. As we target the deeper
Manuel Pablo Zuniga-Pflucker, President Touchstone Exploration has commenced oper- level, our enhanced understanding of the struc-
and CEO, commented: “Bretana’s reserves have ations at the Royston-1X sidetrack well located ture will allow us to assess the full potential of
grown tremendously since 2017. Our drilling on the onshore Ortoire block in the Republic of the intermediate sheet, which was not fully pen-
success combined with the field’s strong natural Trinidad and Tobago. Touchstone has an 80% etrated or completed in Royston-1, as well as the
aquifer support that allow for recovery factors operating working interest in the well, with Her- subthrust sheet which is a prolific target in off-
beyond 30% has underpinned a world-class oil itage Petroleum Co. holding the remaining 20% setting oil pools.
operation that is expected to deliver immense working interest. “Following our recent capital raise, we are
free cash flow for the next 20 years. The field’s Touchstone has completed the mobilisation excited for 2023 as we commence our latest
initial 2017 2P estimated ultimate recovery was of Star Valley Drilling Rig #25 to the Royston sur- drilling programme and continue construction
37.5mn barrels, which we have now almost face location, and the drilling rig has passed all of our Cascadura facility with a goal of bringing
tripled to 108.2mn barrels. The PetroTal team required pre-drilling inspections. Royston-1X is on production as soon as practicable.”
is committed to increasing value for all stake- a sidetrack well reentering the previously drilled Touchstone Exploration, 06 February 2023
holders from the oil field’s ultimate oil recovery Royston-1 well and is expected to be drilled to a
enhancement. Noteworthy that our PDP after measured depth of 11,300 feet, targeting hydro- Keppel O&M to deliver
tax NPV-10 valuation is similar to our current carbon accumulations in the Middle Miocene
market capitalisation. We see significant upside Herrera overthrust, intermediate and subthrust Guyana’s third FPSO
with respect to PUD, Probable, and Possible sheets.
reserve values that are not reflected in our cur- The Royston-1 exploration well was drilled in The Prosperity FPSO will be the third of four
rent market valuation.” 2021 to a total depth of 10,700 feet and identified FPSOs Keppel is undertaking for deployment
PetroTal, 01 February 2023 over 1,000 feet of Herrera section in the over- in Guyana.
thrust and intermediate sheets, encountering Keppel Shipyard, a wholly-owned subsidiary
light, sweet crude oil in both sheets. of Keppel Offshore & Marine (Keppel O&M), is
PROJECTS & COMPANIES Touchstone is targeting to drill the on track to deliver a mega Floating Production
Royston-1X well through the previously tested Storage and Offloading vessel (FPSO) to SBM
DORIS wins contract Herrera sands to penetrate new sands at the base Offshore in Q1 2023. This is the third FPSO that
of the intermediate sheet and into the untested Keppel Shipyard is delivering to SBM Offshore
for Concept Selection subthrust sheet. The well is anticipated to be and will be chartered to the consortium of Exx-
drilled and logged within 45 days, and the Com-
onMobil, CNOOC, and Hess to operate in off-
Engineering for SPS and pany will provide further updates when drilling shore Guyana.
SURF at Block 29 in Mexico

DORIS, an international group specialised in
engineering, consulting and project manage-
ment in the conventional energies, hydrogen,
carbon capture and storage and renewables, has
signed a contract with Repsol Exploración Méx-
ico, a subsidiary of Repsol, for the execution of
Concept Engineering of the Subsea Production
System (SPS) and Subsea Umbilical, Riser, and
Flowline (SURF) for the Block 29 development
in Mexico.
Block 29 is located in the Salina Basin off-
shore in the Gulf of Mexico approximately 88
km from the state of Tabasco. It covers an area
of 3,254 square km. The study will involve two
fields, which are 16 km apart at water depths
ranging from 460 to 600 metres.
The fields, Polok and Chinwol, were the first
deep-water oil discoveries made by an Interna-
tional Oil Company in Mexico. Repsol is the

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