Page 19 - LatAmOil Week 01 2021

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Westmount Energy cited MAD’s statements is estimated to contain 9bn barrels.
as saying that the group expected to finish the Equity in the Canje project is split between
drilling of the Bulletwood-1 well on or about ExxonMobil, with 35%; Total (France), with
February 23. 35%; JHI (Canada), with 17.5%, and Mid-Atlan-
The partners are reportedly optimistic about tic Oil & Gas (Guyana), with 12.5%. JHI used
their chances of success, as Canje lies directly to have a larger stake in the block but reduced
to the east of the Stabroek block, where Exx- its equity holdings via a farm-out deal with
onMobil has already made more than a dozen Total in 2018. Under that deal, Total is assum-
oil discoveries, it said. (One of these finds, Liza- ing JHI’s expenses for the drilling of up to four
1, became Guyana’s first producing field in exploration wells. The Canadian company is
December 2019.) also “funded for the drilling of additional wells,”
It went on to say that data collected by Can- Westmount noted. ™
ada’s JHI, a minority shareholder in Canje,
showed that Bulletwood-1 might contain as
much as 500mn barrels of crude oil. The new
well will “[target] a Liza lookalike, confined
channel complex of Late Cretaceous, Campa-
nian age,” it added.
Gerard Walsh, the chairman of Westmount
Energy, stressed these points, saying: “Bullet-
wood-1 is the first well in a multi-well, fully
funded, drilling campaign being operated by
ExxonMobil on the Canje block over the next
six months or so. This campaign will evaluate
high impact Upper Cretaceous prospects in the
proven Liza play fairway with, in some cases,
additional deeper reservoir targets.”
Westmount Energy has said that Canje may
turn out to hold a total of 10bn barrels of oil. This
would make it even larger than Stabroek, which Canje is adjacent to Stabroek (Image: OilNow.gy)

BRAZIL
Enauta takes full control of

Atlanta oilfield in Santos basin

THE Brazilian independent player Enauta Par- can create value despite a scenario of lower oil
ticipações has taken 100% ownership of Block prices.”
BS-4, which contains the offshore Atlanta field, The firm also said it was preparing to launch
following its partner Barra Energia’s decision to the bidding process for floating production,
withdraw from the block last November. storage and off-loading (FPSO) freight opera-
Barra Energia, a Rio de Janeiro-based inde- tions, calling that “a key stage for the project’s
pendent, has pledged to pay $43.9mn to aban- approval.”
don three wells at the field and to decommission It also stated that it intended to seek new
facilities there, Enauta said in a securities filing. partners for the project but did not name any
It also noted that the transfer of ownership for potential investors.
the field was still subject to a number of regula- The Atlanta development is expected to
tory approvals. include the installation of a new FPSO unit with
Atlanta is located in the shallow-water sec- a production capacity of 50,000 barrels per day
tion of the Santos Basin off Brazil’s south-eastern (bpd) at the field. The vessel will be connected
coast. It contains more than 1bn barrels of heavy to 12 development wells, all of which are due to
crude oil, and Enauta believes that the site can be begin operating by next year.
developed profitably. The oil price collapse that was followed by the
“Atlanta has 1.3bn barrels of oil in place coronavirus (COVID-19) pandemic has put the
[OIP], of which only 1.25% has been produced future of the project in some doubt. Enauta is
so far,” Enauta’s CEO Decio Oddone was quoted now predicting that average production levels at
as saying in the statement. “We believe it is pos- the Atlanta field will fall from 20,000 bpd in 2020
sible to develop a more resilient project that to 16,000 bpd in 2021.

Week 01 07•January•2021 www. NEWSBASE .com P19