Page 9 - LatAmOil Week 41 2019

LatAmOil
NEWS IN BRIEF
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Ecopetrol reports crude oil
find at the Flamencos-1 well
in Santander
Ecopetrol reports that the Flamencos-1 well, located in Puerto Wilches (Santander), con- firmed the presence of crude oil in the La Paz for- mation. The well is part of the Magdalena Medio Operating Agreement, in which the company has a 100% interest.
The well, operated by Ecopetrol, reached a total depth of 8,561 feet (2,620 metres) and found the La Paz formation between 7,465 and 8,263 feet (2,276-2,519 metres). During the ini- tial tests 52 feet of arenitas from the base of the formation were opened to production, where an accumulated of 2,413 barrels of 30° API oil was produced and recorded an average flow of up to 600 barrels per day of oil, with a water cut less than 1%.
The production unit is the same as the Can- tagallo and Las Garzas fields, and the proximity of Flamencos to these receiving stations and to the Barrancabermeja refinery generates a com- petitive and operational advantage.
Ecopetrol is initiating the activities to advance the extensive tests of the discovery and the delimitation of the same, which allows it to con- tinue his evaluation and to define his commerci- ality in the short term. “This finding is part of the exploration strategy in areas close to production fields (near field), to incorporate reserves and production barrels in shorter times,” said Felipe Bayón, president of Ecopetrol.
Ecopetrol, October 16 2019
ONGC Videsh makes
two new discoveries in
Colombia and Brazil
ONGC Videsh has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep off- shore exploration block BM-SEAL-4, Brazil in the Sergipe Alagoas Basin.
Well Sol-1, Colombia: Well Sol-1, in the block CPO-5 encountered 8 metres of oil bear- ing sands at a depth of 2,852 metres. The oil discovery in Sol-1 confirms the extent of oil pay further south of the block. ONGC Videsh had earlier discovered commercial oil in the same pay in wells Mariposa-1 and Indico-1 in 2017 and 2018, respectively. Both the wells are in pro- duction now.
ONGC Videsh, as operator, holds a 70% participating interest (PI) in CPO-5 block. The
balance 30% PI is owned by Petrodorado South America, Sucursal (PDSA), Colombia.
Well Moita Bonita-2, Brazil: Petrobras, as operator of BM-SEAL-4 consortium with ONGC Videsh, completed drilling of the well Moita Bonita-2 in deep offshore Brazil located in the Moita Bonita Area (block BM-SEAL-4) at a water depth of 2,629 metres and encoun- tered gas bearing sand of total thickness of 39 metres at a depth of 5,227 metres and oil-bear- ing sand of total thickness of 24 metres at deeper depths. Drill stem testing was performed in the gas-bearing interval between 5,252 metres and 5,291 metres, and the result showed good pro- duction from the reservoir.
Petrobras is the operator of the consortium (75% PI) and partners ONGC Videsh (25% PI). The consortium plans to continue the oper- ational activities to evaluate the discovery to ascertain its commerciality.
ONGC Videsh has a significant presence in oil & gas sector of Brazil and Colombia. It holds stakes in seven exploratory blocks. In addition, ONGC Videsh is the joint owner of the oil-pro- ducing company Mansarovar Energy Colombia Ltd (MECL), along with its partners Sinopec of China. In Brazil, ONGC Videsh holds 27% PI in the offshore BC-10 block.
ONGC Videsh, October 16 2019
Petrobrasextendsdeadline
for expressions of interest
in Recôncavo assets
Petrobras, following up on the release dis- closed on September 30, 2019, reports that it
has extended until October 21, 2019, the noti- fication deadline for companies to express their interest on the sale of eight onshore exploratory blocks located in the Recôncavo Basin. There is no prejudice for the companies that have already expressed their interest.
The deadline for signing the Confidentiality Agreement and other documents provided for in the Teaser was postponed to October 25, 2019. The adjusted Teaser is available on Petrobras’ website.
Subsequent stages of the project will be reported to the market in due course. This oper- ation is in line with the company’s portfolio opti- misation and improvement of capital allocation, aiming at creating value for our shareholders.
The eight onshore exploratory blocks com- prise the concessions REC-T-32_R12, REC- T-40_R12, REC-T-50_R12, REC-T-51_R12, REC-T-52_R12, REC-T-60_R12, REC-T-61_ R12 and REC-T-70_R12.
The blocks are located in an area with deployed infrastructure and a proven oil system, close to fields in production. Petrobras holds 100% interest in these eight concessions. Offers must be submitted by block.
Petrobras, October 15 2019
Petrobras signs contract for saleofLagoaPardaCluster
Petrobras reports that it signed today with Imet- ame Energia Lagoa Parda, a wholly owned sub- sidiary of Imetame Energia, a contract for the sale of its entire working interest in the onshore fields of the Lagoa Parda Cluster, located in Espírito Santo state, near the city of Linhares.
Week 40 10•October•2019
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