Page 14 - LatAmOil Week 42 2021

LatAmOil NEWS IN BRIEF LatAmOil

quality and highest-priced blend oil production facilities in H1-2021 with a utilisation factor
UPSTREAM at Santa Cruz Sur. (UF) of 79%, in line with the 2020 average and
The Company intends to optimise the timing higher than that recorded in 2019 (77%) and
Echo Energy issues update of when the well is brought into full production 2018 (76%), even considering the scheduled
to maximise cost and operational efficiencies stoppages at the REDUC, RPBC, REGAP,
on well intervention plan within the larger work programme for the Santa RLAM, REPAR and REVAP refineries, which
were postponed from 2020 to 2021 due to the
Cruz Sur assets.
for Santa Cruz Sur assets prior to the completion of the well intervention, operating with a FUT of 90%.
As previously announced by the Company, pandemic. As of October 2021, the Company is
Echo Energy, the Latin American focused liquids production net to Echo averaged approx- In recent years Petrobras has made invest-
upstream energy company, has announced, fur- imately 290 bpd in September 2021. ments in its refining park to increase its capacity
ther to the Company’s announcement of Octo- Martin Hull, CEO of Echo Energy, com- to economically process the heavier Brazilian
ber 5, 2021, that it has completed the first in a mented: “I am pleased to announce that we crude oil, improve the quality of the product to
programme of 16 proposed well interventions have successfully completed an initial well inter- meet stricter regulatory standards, modernise
and workovers to bring non-producing reserves vention on Santa Cruz Sur. This well delivered refineries and reduce the environmental impact
back in to production at Santa Cruz Sur. high-quality production capacity and demon- of its refining operations.
The first intervention has now been success- strates the quality and production potential of Petrobras also clarifies that, in recent years,
fully completed on a well in the Chorillos block. opportunities available from our assets at Santa the Brazilian diesel market has been supplied
For the operation, a surface hydraulic pumping Cruz Sur. We look forward to further updating both by its production and by imports carried
unit was used to induce flow and over a 100-hour the market as our work programme progresses.” out by distributors, third parties and by the
period, the well delivered a cumulative 305 bar- Echo Energy, October 14 2021 Company, which ensured that domestic demand
rels of high-quality oil as part of this intervention was fully met. For the month of November,
and flow induction process, a rate equivalent to Petrobras received orders well above the previ-
circa 76 bpd. DOWNSTREAM ous months and its production capacity. Only
The intervention focused on assessing the long in advance would Petrobras be able to plan
production potential and delivery of high-qual- Petrobras issues itself to meet this atypical demand. Compared to
ity oil at low water cut from a well last fully online November 2019, distributors’ demand for die-
in 2013. Prior to the intervention the relevant clarification following sel increased by 20% and for gasoline by 10%,
field was producing 17 bpd from a small num- representing more than 100% of the Brazilian
ber of active wells. reports of problems with market. Petrobras continues to comply with the
The intervention and workover programme contracts with the Distributors, in accordance
is in addition to the Company’s previously fuel deliveries with the terms and deadlines in effect and its
announced programme of reactivating, at the capacity. In addition, the Company is maximis-
appropriate time, previously shut-in wells at Petrobras clarifies about pieces of news in the ing its production and deliveries, operating with
the Campo Molino oilfield and has been com- media regarding cuts in fuel orders fulfillment. high utilisation of its refineries.
menced in line with the current strategy of As disclosed in the Q2-2021 Production and Petrobras, October 18 2021
focussing upon production to deliver the highest Sales Report, the company operated its refining

SERVICES
TGS, BGP, CGG sign

agreement with Staatsolie

for multi-client programmes
offshore Suriname

TGS, in a consortium with CGG and BGP, has
announced the signature of a multi-client agree-
ment with Staatsolie, the state-owned company
leading the development of the energy industry
in the Republic of Suriname. The agreement
allows the consortium to acquire, promote
and license multi-client seismic programmes,
including new 3D acquisition and legacy data
reprocessing, in the shallow-water acreage off-
shore Suriname.
Suriname’s shallow offshore acreage includes
three blocks recently awarded, and current open
acreage slated to be offered in a competitive bid
round for 2023.

P14 www. NEWSBASE .com Week 42 21•October•2021