Page 18 - LatAmOil Week 47 2020

LatAmOil NEWS IN BRIEF LatAmOil

The Tie light oil field was discovered in 2009. their energy in one direction versus another, this PERFORMANCE
Maha purchased the field in 2017 and immedi- project’s omni-directional source is designed to
ately embarked on an expansion project of the give out energy uniformly in all directions which Crown Point announces
field and the oil processing facilities. At acquisi- will be key to 4D repeatability for this rich azi-
tion, the Tie field was producing 1,300 bpd of oil muth deepwater OBN acquisition. results for 9M-2020
and the processing facilities were rated to handle Shearwater GeoServices, November 26 2020
up to 2,000 bpd of oil. Aker Solutions wins maintenance and modi- and Q3-2020
During 2018 and 2019, Maha recompleted fications contract in Brazil from Equinor
two wells and placed them on jet pumps. Maha Aker Solutions has won a framework agree- Crown Point Energy today announced its oper-
also drilled a new producer at the crest of the ment with Equinor to provide maintenance and ating and financial results for the three and nine
structure. In parallel to the recompletions and modifications services at the Peregrino field, off- months ended September 30, 2020.
drilling, the Tie field processing facilities were shore Brazil. The contract has a fixed period of During Q3-2020, the Company: Reported
upsized to handle and process 5,000 bpd of oil. four years and includes an option for a two-year net cash from operating activities of $30,000
In 2020, Maha installed two large compressors to extension. and funds flow used by operating activities of
provide the ability to reinject any unsold associ- The new contract means an expansion of the $500,000; Earned $2.4mn of oil and natural gas
ated natural gas. The compression system allows more than 40 years of co-operation in the North sales revenue on average daily sales volumes of
the field to continue to produce oil even if the Sea. “We are excited to build on our strong rela- 1,240 boepd, down from $9.6mn of oil and nat-
associated gas off-take is interrupted. tionship with Equinor,” said Linda Litlekalsøy ural gas sales revenue earned on average daily
The oil is trucked to two customers nearby Aase, executive vice president, electrification, sales volumes of 2,518 boepd in Q3-2019 due
and the associated gas is compressed and also maintenance and modifications at Aker Solu- to lower production from natural gas wells due
sold on the local market. tions. “Together, we will ensure safe and suc- to natural decline rates combined with delivery
The Company also hold interests in six other cessful operations in Brazil, work to extend the restrictions at the Cruz del Sur terminal that
exploration blocks in the Reconcavo Basin. lifetime of Equinor´s assets and find low-carbon required the UTE to shut-in the San Martin field
These blocks are in varying stages of exploration. solutions where possible.” from March 24, 2020 to September 4, 2020.
Maha Energy, November 25 2020 Brazil is a vital market where Aker Solutions Received an average of $2.46 per mcf for nat-
sees opportunities for several types of deliver- ural gas and $30.99 per barrel for oil compared
ies. The company’s strategy is to use its subsea to $3.56 per mcf for natural gas and $53.83 per
SERVICES manufacturing facilities in the country as a hub barrel for oil received in Q3-2019; Reported
to serve both local projects and international an operating netback of $4.17 per BOE, down
Shearwater GeoServices developments. from $21.08 per BOE in Q3-2019 due to lower
In recent years, Aker Solutions has won sev-
sales volumes and the drop in oil and natural
awarded Petrobras OBN 4D eral subsea contracts from Equinor, where parts gas prices in Argentina combined with over-
of the subsea equipment are manufactured in all higher per BOE operating costs due to the
baseline survey Brazil. This includes projects such as Johan Cast- decrease in sales volumes; Commenced the
transport of oil through the newly commis-
berg, Troll and Breidablikk in Norway.
Shearwater GeoServices has announced the The value of the frame agreement depends sioned Company-owned oil pipeline (the San
award by Petrobras of a large Ocean Bottom on the amount of work requested by the client. Martin oil pipeline) connecting the San Martin
Node 4D Baseline survey over the Jubarte Field Orders will be booked as they are received. No field to the Cruz del Sur facility for storage and
in the Campos Basin offshore Brazil. order intake will be booked at this stage. subsequent sale, negating the need for certain
Shearwater has positioned itself as a leading Aker Solutions, November 23 2020 trucking and lowering transportation costs;
player in the deepwater OBN market, build- Repaid $600,000 (ARS 42.7mn) and obtained
ing on its established leading positions in the $1.2mn (ARS 85.2mn) of short-term working
hybrid and shallow water ocean bottom seismic capital loans.
markets. La Angostura Concession: Repair work at
“We welcome this contract awarded by the YPF operated Cruz del Sur oil storage and
Petrobras and look forward to supporting their offshore tanker loading facility was completed
continued ambitions in the Jubarte Field,” said and the facility was reopened in August 2020.
Irene Waage Basili, the CEO of Shearwater Geo- On August 31, 2020, the Company sold 27,173
Services. “This deepwater OBN award reflects barrels of oil, held in stock at Cruz del Sur since
our experience in operating offshore Brazil, our September 2019. On September 4, 2020, oil pro-
position in the deepwater OBN segment and our duction from the San Martin oil pool, previously
strategy of marine seismic leadership and unique shut in on March 24, 2020 due to low pricing
in-house developed technology and solutions.” and no export access, was restarted at an initial
The 810-square km survey will commence restricted average rate of 1,475 (net 512) bpd of
in the first half of 2021 and be conducted over a oil. During October 2020, oil production was
three-month period. increased to an average of 2,328 (net 809) bpd
The survey will utilise the SW Diamond of oil. Oil is now transported through the San
operating Shearwater’s unique 3x3 source, which Martin oil pipeline.
is equipped with three sub-arrays on each of the Las Violetas Concession: Natural gas produc-
three sources, compared to the conventional two, tion from the Las Violetas concession remained
allowing increased efficiency without source uninterrupted during the September 2020
compromise. While conventional sources vary period.

P18 www. NEWSBASE .com Week 47 26•November•2020