Page 18 - LatAmOil Week 28 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
MIDSTREAM
Mirage Energy signs new
agreement with Northern
Hemisphere Logistics on
Isthmus Corridor Project
Mirage Energy announces that it has signed a new agreement with Northern Hemisphere Logistics to increase its participation in the development of Northern Hemisphere’s Isth- mus Corridor Project. e signing of this new agreement gives Mirage the right to participate for 50% of the project, an increase from 30% in the original agreement announced on March 16, 2020. e total estimated cost for the project is $2.0bn.
e Isthmus Corridor project consists of a series of pipelines and storage facilities in Mex- ico connecting the Port of Pajaritos on the Gulf of Mexico side to Salina Cruz on the Pacific side. e pipelines will provide a faster, more economical means of delivering crude oil and re ned products from the US to Asia, Mexico and the west coast of the U.S. compared to using the Panama Canal or the Cape Horn route, sav- ing up to 36 days of true shipping time.
Mirage Energy is a natural gas storage and international transportation company based in San Antonio, Texas. rough its wholly owned subsidiaries, Northern Hemisphere Logistics, Inc., WPF Transmission, Inc., WPF Mexico Pipelines, Cenote Energy, Project Consulting Services and Arendal, Mirage is developing an integrated pipeline infrastructure in and between Mexico and the US and North Amer- ica’s largest natural gas storage facility, located in Mexico. Founded in 2014 as Bridgewater Plat- forms, the company changed its name to Mirage Energy Corporation in November 2016.
Mirage Energy, July 09 2020
SERVICES
New PGS data now
available for Brazil’s
Sergipe-Alagoas Basin
PGS has released a contiguous prestack depth data volume of GeoStreamer data covering 13,000 square km in Brazil’s Sergipe-Alagoas Basin. Data covers key o shore discoveries in the SEAL Basin. is extends coverage into deepwa- ter areas relevant for recent leasing and where future open acreage will be o ered in upcoming Brazil bidding rounds.
The latest volume includes the recently reprocessed SEAL Bonita 3D PSDM and SEAL Pirambu PSDM in a single contiguous dataset. e data have been imaged with TTI PSDM to delineate the Cretaceous source and subtle AVO response of the Late Cretaceous reservoirs. e 13,000 square km project has been seamlessly combined throughout the prestack depth migra- tion velocity model building sequence and nal TTI PSDM images.
PGS acquired the 4 547 square km BM-SEAL 4-10-11 in 2014, delivering nal time and depth data in 2015. is GeoStreamer 3D dataset cov- ers Petrobras discoveries such as Barra, Farfan, Cumbe, Moita-Bonita, Muriu and Poco-Verde.
PGS returned to the basin in 2018 and acquired an additional 8,425 square km of MC3D data in the outboard deepwater area. For the SEAL Pirambu MC3D project, Ramform Tethys utilised a 16 x 100 x 8100m dual-source con guration, achieving production rates over 80 square km per day in the challenging o shore Brazil environment, again delivering high-qual- ity GeoStreamer data. e full integrity PSTM products were delivered in 2019, and PGS embarked on anisotropic PSDM processing of the Deepwater SEAL Pirambu portion.
Then, PGS preprocessed the SEAL 4-10- 11 with the latest signal processing, multiple attenuation, and noise attenuation work ows, and combined it with Pirambu to create a TTI KPSDM volume covering nearly 13 000 square km. A full integrity KPSTM is also available.
In recent years, Petrobras has reported important light oil, natural gas and condensate discoveries in the deepwater Sergipe-Alagoas Basin. ese potentially signi cant discoveries are characterised by an e cient marine source rock with accumulations in Upper Cretaceous turbidite reservoirs. PGS’ Bonita MC3D repro- cessing covers these key up-dip discoveries, where it is understood Petrobras is promoting farm-in opportunities.
Appraisal work of these discoveries has been ongoing, and in late February 2020, Petrobras communicated the start of an extended well test (EWT) of the Farfan discovery, with an estimated test duration of 180 days. Petrobras operates block BM-SEAL-11, where the Farfan discovery lies, with a 60% interest. It is partnered
by IBV Brasil, a 50:50 Indian joint venture between state-controlled Bharat Petroleum and privately run Videocon Industries, which hold the remaining 40% interest.
e reservoir intervals for these Petrobras discoveries potentially extend along strike and into deeper water, within PGS’ SEAL Pirambu Geostreamer MC3D. e base of slope and basin oor fans could lie farther out into this deeper water portion and mapping of the proposed source interval shows a mature source for the area. Exploration for these intervals is expected to continue into the future.
PGS, July 15 2020
‘K’ Line in deal with
Yinson, Sumitomo, for
stake in Marlim II project
FPSO offshore Brazil
Kawasaki Kisen Kaisha (‘K’ Line) has concluded agreements with Yinson Acacia, a wholly-owned subsidiary of Yinson Holdings, a Malaysian energy services provider and Sumitomo, to par- ticipate in the oating production, storage and o -loading (FPSO) owning and chartering busi- ness for the Marlim II Project, o shore Rio de Janeiro, Brazil. e Marlim eld is operated by Brazilian national oil company, Petrobras. Upon stable operations of the FPSO being achieved in 2023, ‘K’ “Line will have around a 10% stake in the FPSO venture.
The FPSO is planned to serve the Marlim oil and gas eld revitalisation project, which is operated by Petrobras and situated 150 km o the Brazilian coast in the Campos Basin. Both entities which have entered into the time charter agreement and service agreement with Petrobras for the owning/chartering and operation/main- tenance of the FPSO are currently co-owned by Yinson and Sumitomo. Operations is expected to commence by first quarter of 2023, with a 25-year charter period thereafter, with no options for extension. is project represents ‘K’ “Line’s second FPSO business following the o - shore Ghana oil and gas eld development pro- ject based on the partnership with Yinson and Sumitomo, in which the company participated in 2018, and ‘K’ Line will e ciently accumulate the knowledge and expertise of operation and maintenance of FPSO by dispatching its techni- cal personnel to Yinson’s project team in Singa- pore from this year onwards.
Outline of the Marlim II FPSO: Crude oil processing capacity:70,000 barrels per day (bpd); Gas processing capacity: 4mn cubic metres per day; Estimated charter period: 2023–2048 (25 years).
Kawasaki Kishen Kaisha, July 13 2020
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Week 28 16•July•2020