Page 15 - LatAmOil Week 48 2021

LatAmOil NEWS IN BRIEF LatAmOil

Production of the first definitive Mero system
(Mero 1) is scheduled to start in 2022, through
FPSO Guanabara, followed by Mero 2 (FPSO
Sepetiba), in 2023, and Mero 3 (FPSO Marechal
Duque de Caxias), in 2024.
Petrobras, November 29 2021
PXGEO completes
Santos Basin 4D

baseline OBN acquisition

PXGEO has successfully completed the Sapin-
hoa 4D Baseline OBN program for the BMS-9
consortium, operated by Petrobras, in the deep-
water Santos basin, offshore Brazil. The four-
month project utilising PXGEO’s proprietary
Manta OBN technology was completed safely
and efficiently around the end of October 2021,
within the agreed project schedule. will hold on December 1 the Presentation of Block Lease Operatorship Sub-Licence, onshore
The PXGEO COVID-19 mitigation measures Proposals Hearing of the Colombia Round 2021 Trinidad, with an effective date of December 1,
were fully effective throughout the project at pre- to continue advancing in the reactivation of the 2021.
venting exposure to personnel offshore. hydrocarbons sector. The initial cash consideration for the Acqui-
PXGEO, November 29 2021 In the Colombia Round 2021, 17 companies sition was $3.5mn, subject to potential closing
were qualified, a new contractual framework was adjustments and a contingent consideration of
Seadrill announces structured, a new land map was developed and up to $500,000. The final cash consideration
investors were given the opportunity to submit (inclusive of contingent consideration and the
contract awards worth proposals through blockchain technology. initial deposit payment of $700,000) totalled
The Fourth Cycle of the Permanent Process $3.85mn and has been fully funded from the
$549m for West Tellus, of Area Assignment-Colombia Round 2021, has Company’s existing cash resources.
Acquisition Highlights: Contiguous to Trin-
28 areas offered by the ANH located in mature,
West Carina offshore Brazil emerging and frontier basins, of which 23 are ity’s largest and most prolific onshore Block,
continental and five are offshore in the Colom-
WD-5/6, with 80% of the PS-4 block covered
Seadrill has secured two contracts with Petro- bian Pacific, for subscription of E&P and TEA by the 3D seismic survey acquired in Q1-2021.
bras for the West Carina and West Tellus rigs for contracts. Additionally, the qualified companies Immediate benefit from applying the Group’s
work on the Búzios field offshore Brazil. Both nominated 25 areas, for a total of 53. 3D seismic sequence stratigraphic framework
contracts have been signed on a three-year fixed- “The reactivation of the Colombian hydro- across the new acreage offering a significant
term basis, with expected commencement in carbons sector is a reality. When we started this opportunity to add reserves and production on
September 2022. Total contract value for the two Government we had nearly five years without a meaningful scale. A programme of workovers,
contracts is approximately $549mn (inclusive of signing a single contract, and today we have 39 reactivations, recompletions, and at least two
mobilisation revenue and additional services). exploration and production contracts signed, new infill wells, expected to increase production
Seadrill’s CEO Stuart Jackson, commented: thanks to the process led by the Ministry and the from 65 bpd currently to over 200 bpd by the end
“We are delighted to continue our long associa- ANH. This is a fundamental sector not only for of 2022. Provides substantial synergies from a
tion with Petrobras with the award of two three- the national economy because of its economic financial, operational and technical perspective.
year firm contracts for the West Carina and West contributions to the country’s finances, but Funded from existing cash resources and imme-
Tellus on the Búzios field. Brazil is a strategically also because of its role in guaranteeing national diately accretive to operating and free cash flow.
important market for the offshore sector and I energy security and closing gaps in the Colom- The increase in acreage and location of the
am pleased that Seadrill will continue to play an bian regions,” said the Minister of Mines and Block (being contiguous to WD-5/6) will enable
increasingly significant role in the coming years.” Energy Diego Mesa. the Company to integrate the PS-4 area seam-
Seadrill, November 26 2021 ANH, November 30 2021 lessly into its ongoing subsurface evaluation pro-
cess - offering the potential to high grade existing
Trinity Exploration drilling candidates and identify new ones across
INVESTMENT the larger area.
The Company is focused on growing produc-
ANH to hold Presentation completes PS-4 acquisition tion and reserves, and the integration of PS-4
into the wider portfolio provides Trinity greater
Trinity Exploration & Production, the inde-
of Proposals Hearing for pendent E&P company focused on Trinidad scope to do so. Following a full 3D seismic inter-
and Tobago, has confirmed that, further to pretation, and the re-mapping and integration
Colombia Round 2021 its announcement on May 4, 2021, it has now of all historical wells and production data, the
received all the approvals necessary to complete Company will update the market on reserves
The National Hydrocarbons Agency (ANH) the acquisition of a 100% interest in the PS-4 and forward plans for the Block.

Week 48 02•December•2021 www. NEWSBASE .com P15