Page 14 - LatAmOil Week 03 2022

LatAmOil NEWS IN BRIEF LatAmOil

Gran Tierra’s 2022 exploration campaign of up to decline, conventional oil asset base and our oper- in infrastructure and logistics, in addition to
six to seven wells is expected to be fully-funded ational control for capital allocation and timing. improving customer service standards and
from forecast internally generated cash flow and Our waterflood programmes across all of our emergency control. On the other hand, the con-
is designed to focus on near-field prospects in assets continue to perform well and we expect sumption of natural gas by the industrial sector
proven basins with access to infrastructure, another strong year of free cash flow from these has increased.
providing short cycle times from discovery to high-quality, low-decline assets. “ Petroperú, January 16 2022
bringing production on-stream. Key upcoming Gran Tierra Energy, January 18 2022
catalysts include:
Acordionero: Gran Tierra has allocated PROJECTS & COMPANIES
capital of $70mn towards 2022 development POLICY
activities for the Acordionero field (14-16 Fugro’s QuickVision®
development wells) in the Middle Magdalena Petroperú guarantees safe
Valley Basin. Drilling is expected to commence technology to support
in the first quarter of 2022 with one rig on the supply of natural gas to
Southwest Pad. Gran Tierra plans to continue safe subsea operations in
to focus on quick-cycle times, thereby driving southern Peru
down drilling and operating costs and increas- Brazil’s Mero 2 project
ing oil recovery factors through its waterflood Petroperú ratified its commitment to continue
programme. Since Gran Tierra acquired Acor- guaranteeing the safe supply of natural gas in Maersk Supply Service has awarded Fugro a sub-
dionero in 2016, this field has produced approx- the Arequipa, Moquegua and Tacna regions, sea survey and positioning contract to support
imately 27mn bbl of oil and generated about after completing the first year of the assignment installation of an anchoring system for the float-
$1.3bn in oil and gas sales and $353mn of free it received from the Ministry of Energy and ing production storage and offloading (FPSO)
funds flow from operations. (Both figures are Mines (MINEM) for the administration of the vessel Sepetiba in Petrobras’ deepwater Mero 2
estimates as of December 31, 2021.) gas distribution system native of the southwest, project, offshore Brazil.
Costayaco and Moqueta: Gran Tierra has through Supreme Decree No. 029-2020. These operations are scheduled to begin in
allocated capital of $40mn and $30mn respec- During this first year, Petroperú has contin- Q1-2022 and last approximately four months.
tively to the Costayaco (four to five development ued to supply natural gas to almost 13,000 fam- Fugro will accomplish the work using their
wells) and Moqueta (three development wells) ilies, businesses and industries in southwestern QuickVision® augmented reality camera, a
fields in the Putumayo Basin in 2022. The first Peru, without any rationing despite the difficul- touchless, vision-based approach proven in
Costayaco well is scheduled to spud in the first ties caused by the COVID-19 pandemic and Petrobras’ Mero 1 deepwater project last year.
quarter of 2022. The Moqueta work programme contingencies such as the shutdown of almost a QuickVision® is part of Fugro’s strategy to
is expected to commence in the second half of month for repairs at the Peru LNG plant and the make offshore operations safer, more efficient
2022 and is planned to continue into 2023. various strikes by truckers and farmers along the and more sustainable. Integrated with Fugro’s
Ecuador: Gran Tierra expects to drill two or Pan-American highway. Starfix® navigation suite, the camera system
three exploration wells in 2022, targeting mul- “We have a clear vision that in the near future eliminates the need for staff to mount sensors
ti-zone prospects near existing fields with access Petroperú will become a relevant actor to con- on subsea assets, which in turn reduces offshore
to infrastructure. Gran Tierra’s first exploration tribute to the massification of natural gas for personnel needs, vessel time and carbon emis-
well in Ecuador is scheduled to spud in the sec- social welfare purposes, not only in the Peru- sions. For the Mero 2 project, Fugro will use the
ond quarter of 2022 on the Chanangue Block. vian southwest, but also in other areas of the technology to help guide installation of 24 sub-
Gary Guidry, President and CEO of Gran country where we are commissioned”, said the sea torpedo piles and mooring lines, as well as
Tierra, commented: “Gran Tierra is in a strong Corporate Gas Manager of the state company, to support real-time positioning for additional
position for the continued development and William Farías Gallo, recalling that the MINEM subsea installation and construction activities.
enhanced oil recovery activities in 2022 to opti- commission for gas distribution in the southwest John Chatten, Business Development Man-
mise value from each of our assets. In addition, is for three consecutive years in which the state ager for Fugro’s marine operations in Brazil, said:
we plan to allocate modest capital to prioritised, company will continue to comply efficiently. “We are delighted to be working with Maersk
high-impact exploration drilling opportunities. The official reported that during Petroperú’s Supply Service on their Mero 2 project for Petro-
Gran Tierra is well-positioned to navigate the administration significant savings have been bras following the successful deployment of our
current volatile environment with our low base generated through renegotiations of contracts QuickVision® technology on the Mero 1 project.
It is Fugro’s goal to be the partner of choice for
subsea services, delivering innovative solutions
for complex installation and construction pro-
jects that contribute to the responsible develop-
ment of Brazil’s energy assets.”
Mero 1 and Mero 2 projects are part of the
Mero field under Libra Consortium responsi-
bility, in which Petrobras is the operator (40%)
with the following partners: Shell Brasil (20%),
TotalEnergies (20%), CNODC (10%) and
CNOOC Ltd (10%), together with stated owned
company Pré-sal Petróleo SA (PPSA) as the
manager of the production sharing contract.
Fugro, January 20 2022

P14 www. NEWSBASE .com Week 03 20•January•2022