Page 14 - LatAmOil Week 05 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Bahamas Petroleum Co.
reports on H1-2020
drilling plans
Bahamas Petroleum Co., the oil and gas explo- ration company with significant prospective resources in licences in The Commonwealth of e Bahamas, is pleased to provide the fol- lowing update on its planned H1 2020 drilling campaign.
e Company is on-track to drill Persever- ance #1, the Company’s initial exploration well in e Bahamas, and deliver the well results dur- ing Q2 2020.
Perseverance #1, which is 100% owned and operated by BPC, is to be located in the northern segment of the B megastructure. e target P50 prospective recoverable oil resource at this loca- tion is 767mn barrels, with an upside of 1.444bn barrels (assuming the same recovery factor), and downside volumes approximating to the mini- mum economic field size at currently prevailing oil prices.
is location has been chosen, based upon high resolution 3D seismic data, as the best balance of lowest technical risk, geological con- ditions and recoverable volumes, with a signifi- cantly better developed top seal and reservoir characteristics at this crestal point on the north- ern segment of the very large B structure.
It is anticipated that any discovery at this location has the potential to extend into a larger portion of the overall B structure extending to the south-east. In aggregate, the entire B struc- ture extends for between 70 and 80 km along strike and accommodates over 400 square km of
mapped closure with the entire structure having a combined most likely potential resource of in excess of 2.0bn barrels.
Perseverance #1 will be located in water approximately 518 metres deep, with a target depth of 4,822 metres, but with a capability to be able to reach 5,600 metres, thereby a ording the ability to evaluate multiple reservoir hori- zons throughout the entire stratigraphic column below the Tertiary cover. e ultimate decision on well depth will depend on real-time drilling results and geological information.
Bahamas Petroleum Co., January 30 2020
Echo Energy provides update on CLix-1001 exploration well in Palermo Aike concession
Echo Energy, the Latin American focused upstream oil and gas company, has provided a further update on the Campo Limite exploration well (CLix-1001) drilled in the in the Palermo Aike concession of the Company’s Santa Cruz Sur assets.
The Company has announced that CLix- 1001 has now been con rmed to have identi ed the top of its primary target, the Springhill For- mation, some 28 metres above pre-drill progno- ses and 58 metres above the interpreted regional water contact zone within the area.
e fact that the Springhill Formation, across a 19 metre gross interval between 2,124 metres and 2,143 metres, is shallower than pre-drill prognoses had estimated, is potentially indic- ative of increased reservoir volumes situated above the water contact across the Campo
Limite area, but con rmation of this will be the subject of future technical work.
In addition, the Company con rms that, fol- lowing completion of drilling activity on CLix- 1001 and the previously announced decision to move to completion and testing of the well, the programme for the completion and conven- tional in ow testing of CLix-1001 has now been agreed and testing operations are expected to commence in the second half of February 2020. Echo Energy, January 30 2020
SERVICES
McDermott awarded
contract by BHP for
Ruby Project offshore
Trinidad and Tobago
McDermott International has been awarded a large contract by BHP to provide subsea umbili- cals, risers and owlines (SURF), transportation and installation (T&I), pre-commissioning of one jacket and topsides for the Ruby Project, o - shore Trinidad and Tobago.
e Ruby eld resides in the Block 3(a) devel- opment area of Trinidad & Tobago, approx. 28 miles (45 kms) off the northeastern coast of Trinidad.
“We are pleased to support BHP in this new contract that continues to build on our success- ful track record in Trinidad,” said Mark Coscio, Senior Vice President, North, Central and South America. “ e combination of heavy li and pipelay capabilities of McDermott’s Derrick Lay Vessel (DLV) 2000 are best suited for this project as it can e ciently transport and install both the owlines and platform.”
Engineering and Project Management of the project will be performed in Houston with engi- neering support from McDermott’s Mexico City o ce. McDermott’s DLV 2000 is scheduled to transport and install the owlines and platform.
The project will begin immediately, with completion projected in August 2020. e con- tract award will be reflected in McDermott’s fourth quarter 2019 backlog.
McDermott, February 5 2020
Grupo R, Shell Mexico
sign contract for
deepwater drilling
Grupo R has signed a contract with Shell Mex- ico for the lease of the La Muralla IV platform to operate in the deep waters of the Gulf of Mexico.
P14
w w w. N E W S B A S E . c o m
Week 05 05•February•2020