Page 13 - LatAmOil Week 13 2020
P. 13
LatAmOil
B R A Z I L
LatAmOil
The Brazilian NOC has said it will install the FPSO at a site that lies 150 km from shore in waters that are 930 metres deep. It will then use the vessel, which is capable of handling up to 70,000 barrels per day (bpd) of crude oil and 4mn cubic metres per day of natural gas, to develop the Marlim field.
The signing of the contracts between Yinson and Petrobras clears the way for the Malaysian company to move ahead with plans to work with Sumitomo (Japan) on the Marlim-2 FPSO.
In March of last year, the parties agreed that Sumitomo would take a stake of at least 20% in the shipbuilding project if Yinson succeeded in finalising a deal with the Brazilian NOC.
Marlim, located in the north-eastern section of the Campos Basin, is one of Brazil’s largest oilfields.
Petrobras is intending to launch a revitalisa- tion programme there in order to lift output lev- els and may also sell off some sections of the field as part of its ongoing divestment campaign.
Pan American Energy moves ahead with drilling at Vaca Muerta block
ARGENTINA
ARGENTINA’S Pan American Energy (PAE) is reportedly making progress on a drilling pro- gramme that targets Coiron Amargo Sur Este (CASE), a block within the Vaca Muerta shale basin.
According to Canada’s Centaurus Energy, which is a minority shareholder in the project, PAE has worked on three wells since the begin- ning of 2020. In a statement dated March 30, Centaurus said that its partner was nearly fin- ished with the fifth well in the programme. PAE drilled CASE-102(h), a horizontal multi-frac well, as a replacement for CASE-202(h), which it had to abandon temporarily because of tech- nical drilling problems, it said. CASE-102(h) is currently awaiting completion, it added.
Centaurus went on to say that PAE had fin- ished drilling the fourth well in the programme nearly two months ago. CASE-301h, another horizontal multi-frac well, was completed on February 2 and connected to early production facilities at the block on February 3, it said.
PAE also completed CASE-401h, yet another multi-frac well, and connected it to the early production system on January 7, the statement noted. It said that the well had been drilled to a depth of around 3,100 metres and had an approximate horizontal length of 2,000 metres. “CASE-401h achieved a 30-day average initial production (IP30) rate of 950 barrels per day [bpd] of oil with an average wellhead pressure of 4,600 psi,” it added.
The Canadian company did not comment on the first two wells in the drilling programme,
which was launched last year.
“The CASE-401h, 301h and 102(h) wells are
part of the pilot programme covered by the loan facility that Centaurus has with PAE, which will be repaid with the net production proceeds from 100% of Centaurus’ interest in the CASE block,” it said.
Equity in the case block is split 55% to PAE, 35% to Centaurus (formerly known as Madalena Energy) and 10% to Gas y Petróleo de Neuquén (GyP), an oil and gas company established by the administration of Neuquén Province.
CASE lies within the Vaca Muerta formation (Image: Pan American Energy )
Week 13 02•April•2020 w w w . N E W S B A S E . c o m P13
