Page 11 - LatAmOil Week 03 2022

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Santa Cruz Sur is in the Austral basin (Image: Echo Energy Plc)

Echo Energy Plc says Santa Cruz Sur

production remained steady in Q4-2021

LONDON-LISTED Echo Energy Plc has indi- It did report, though, that yields had risen since
cated that production levels at the Santa Cruz the start of 2022. In the January 1-8 period, it
Sur fields in southern Argentina remained said, output averaged 262 bpd for liquids and
strong in the fourth quarter of 2021 despite 8.3 mmcf (235,000 cubic metres) per day for gas.
labour issues affecting the area of operations in The company went on to tout the success
December. of its decision to focus on selling high-quality
In an operational update, Echo noted that its blends from Santa Cruz Sur, noting that it had
net share of output from Santa Cruz Sur, in line succeeded in boosting sales of liquids in the
with its working interest of 70%, had averaged fourth quarter of 2021. Echo’s net share of sales
240 barrels per day (bpd) of oil and other liq- amounted to 25,881 barrels between October
uid hydrocarbons plus 7mn cubic feet (198,200 and December, it said, up by 71% on the figure
cubic metres) per day of natural gas in the Octo- of 15,050 barrels posted in the previous quarter.
ber-December period. “These production lev- The Santa Cruz Sur licence area consists of
els have been achieved despite a province-wide five producing fields – Campo Bremen, Moy
strike that temporarily reduced production lev- Aike, Chorrillos, Oceano and Palermo Aike – in
els over a six-day period in mid-December,” it the onshore Austral basin. Echo has a majority
said, referring to a work stoppage in Santa Cruz stake in the fields but is not leading development
Province. work there. The operatorship is held by Roch,
Echo did not say whether production levels a privately owned Argentinian company that
at the Santa Cruz Sur fields had met targets or holds the remaining 30% of equity in the pro-
provide comparative data from previous years. ject. ™

CHILE
CEN to seek more diesel for winter power

CEN, the state-owned company that co-ordi- week, saying in a draft document that it was
nates Chile’s national power transmission grid, extending the preventive rationing decree issued
is reportedly looking to source extra supplies of last year, Argus Media reported. It drew up the
diesel fuel for use at small-scale electricity gen- document amidst predictions that Chile was
eration facilities between March and September not likely to have enough thermal generating
of this year. capacity to meet demand during the upcoming
The company rolled out its decision last heating season.

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