Page 19 - LatAmOil Week 48 2020

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SERVICES Fast track depth products from phase 2 will (ERCE), in respect of the reserves and resources
be available prior to the 17th Bidding Round. attributable to the Company’s currently pro-
PGS returns to Brazil & Services for South America, commented: planned extended well test (EWT) in Suriname,
Martin Melhuus, PGS Vice President Sales ducing assets in Trinidad and Tobago and the
for Campos Deepwater “We are very pleased for Ramform Titan to be as at September 30, 2020.
Trinidad and Tobago and Suriname strategy
back in Campos Basin. Despite the challenges
GeoStreamer X Phase 2 of this year, the support of industry funding for defined to deliver by end of 2021: A revenue run-
this programme shows there is strong interest rate of more than $35mn per annum; An oper-
PGS Ramform Titan is about to continue acqui- in the potential within the Campos Basin. This ating cashflow run-rate of more than $15mn per
sition of the Campos Deepwater GeoStreamer X, is a strategic project in a core area where PGS annum. This is based upon achieving, or exceed-
a prefunded MultiClient 3D seismic survey with fully utilises its latest acquisition innovations in ing, a production target of 2,500 bpd, current oil
multi-azimuth coverage. In December 2020, providing a step-change in data quality for the prices and an extraction cost of less than $20 per
PGS will resume operations to acquire an addi- evaluation of the upcoming 17th Bidding Round barrel.
tional 8,400 square km. This survey provides the acreage and greater Campos pre-salt play. Avail- A comprehensive 2021 work programme
first 3D seismic for 17th Round blocks. able fast-track results show great promise and has been developed to deliver this strategy, with
Ramform Titan will again be configured with reveal large pre-salt structures within the avail- planned activity across BPC’s portfolio of assets
14 multi-sensor streamers, each 10.05 km long, able acreage.” in Trinidad and Tobago, and Suriname: Base
the largest spread ever towed offshore Brazil. PGS, December 01 2020 programme of two appraisal wells, up to 13 pro-
This configuration minimises the number of duction wells, and up to 2 exploration wells (all
source points per square km and reduces the subject to permitting). Production and poten-
number of acquisition days. Both of these meas- COMPANIES tial development could be further accelerated by
ures reduce environmental impact. adding up to an extra 11 production wells and
This survey will provide the first 3D seismic Bahamas Petroleum Co. one extra exploration well (subject to permitting
data over blocks offered in the upcoming 17th and rig availability).
Bidding Round, now scheduled for October updates strategy for 2021 base work programme in detail: Drill-
2021. ing of Saffron #2 appraisal well commencing in
The Campos Deepwater GeoStreamer X pro- Trinidad and Tobago February 2021, which, subject to results, would
ject combines new and legacy 3D data, provid- rapidly see BPC seek approvals for a Saffron field
ing a step-change in image quality by delivering and Suriname development, and with up to 7 production wells
high-quality, long-offset, multi-azimuth seismic to follow through 2021. Drilling of appraisal well
data over the deepwater portion of northern Bahamas Petroleum Co. (BPC), the Caribbean and an Extended Well Test (EWT) in the Weg
Campos Basin. and Atlantic margin focused oil and gas com- Naar Zee Block in Suriname in February 2021
The programme utilises the latest PGS acqui- pany, with production, appraisal, development and, subject to results, rapidly moving into a
sition and imaging innovations along with leg- and exploration assets across the region, has pro- wider field development, with up to six produc-
acy library data. When completed, the survey vided an update on its strategy, deliverables and tion wells to follow through 2021, and Comple-
will cover approximately 14,900 square km. 2021 work programme for its portfolio of assets tion of reprocessing of the entire 3D seismic grid
The tailored acquisition configuration for this in Trinidad and Tobago and Suriname. The over the highly prospective South West Penin-
GeoStreamer X project will provide 10-km long Company’s work programme priorities follow sula (SWP) of Trinidad, high-grading Saffron
offsets to improve depth velocity modeling accu- receipt of a Competent Person’s Report (CPR) lookalike prospects for drilling, with up to 2 ini-
racy of the post-salt, salt, and pre-salt sections, by independent reserves auditor ERC Equipoise tial exploration wells by the end of 2021.
facilitated by the use of PGS Full Waveform
Inversion (FWI) technologies.
FWI modeling results indicate these long
offsets will aid in derived velocity accuracy in
the pre-salt section. These additional offset data
also promise added angle range and improved
signal/noise for seismic amplitude analysis and
reservoir characterisation. Multi-azimuth pro-
cessing and velocity model building will improve
illumination and image quality of the subsurface
structures found within the pre-salt play in this
portion of the Campos Basin.
Phase 1 full integrity imaging will be available
Q1-2021, providing final multi-azimuth prod-
ucts over open Pre-salt acreage, including TTI
Kirchhoff and RTM (45 Hz) PSDM products.
Shallow hazard high-resolution pre-stack
time migration products will also be available,
to aid in shallow drilling hazard analysis, along
with gravity and magnetic data for regional
basin analysis and standard GeoStreamer field
deliverables.

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