Page 14 - LatAmOil Week 45 2021

LatAmOil NEWS IN BRIEF LatAmOil

ESG
GeoPark announces

strategy and commitment

to minimise emissions

GeoPark, a leading independent Latin Ameri-
can oil and gas explorer, operator and consoli-
dator with operations and growth platforms in
Colombia, Ecuador, Chile, Brazil and Argentina, announced today builds on that principle with excited about the fourth quarter of 2021 and all
today announced its Board of Directors has low costs and low carbon intensity being key of 2022.”
approved a Greenhouse Gas (GHG) emission elements of our business model. We congrat- Gran Tierra Energy, November 10 2021
reduction strategy covering short, medium and ulate our team that has been working so hard
long-term initiatives. to build a robust strategy with ambitious goals Melbana Energy provides
Fast, Immediate and Aggressive Targets: and actionable initiatives that will introduce real
35-40% GHG emissions intensity reduction change in the short-term.” update on Alameda-1
of Scope 1 and 2 emissions by 2025 or sooner; GeoPark, November 10 2021
40-60% GHG emissions intensity reduction of exploration well at Block
Scope 1 and 2 emissions by 2025-2030; Net zero
Scope 1 and 2 emissions by 2050 or sooner. UPSTREAM 9 PSC onshore Cuba
Greenhouse Gas Emission Reduction
Actions and Strategy: Plan developed by Gran Tierra Energy Melbana Energy has provided an update on
GeoPark’s team and supported by Kearney, a the progress of the Alameda-1 exploration well
globally recognised consulting firm; Head start announces restoration being drilled in Block 9 PSC, onshore Cuba.
with lower-than-average carbon intensity in Following the successful setting of the liner
2020: current 15.2 kg CO2e/boe intensity is 28% of production and subsequent formation integrity test, drilling
below industry peer group. ahead in the new formation resumed. At 1,885
Main actions underway target core Llanos Gran Tierra Energy today announced an oper- metres, mud pressure was adjusted to accom-
34 block (GeoPark operated, 45% WI), where ations update. modate influx of gas and the performance of
the interconnection to Colombia’s national grid End of Colombian Blockades Affecting Gran the additional mud/gas separation capabilities
(approximately 70% hydroelectric) by 2022 is a Tierra: As previously announced by Gran Tierra added to the rig was very satisfactory. At 1,892
decisive near-term catalyst to improve carbon on November 1, 2021, a localised farmers’ block- metres, mud weight was further increased and
performance and operational reliability, while ade directed at the Colombian government, not a decision made to shut in the well due to the
reducing cost of energy generation. Gran Tierra, resulted in the Suroriente (Gran delay in the arrival of additional supplies of
In the Llanos 34 block, other initiatives Tierra 52% WI) and PUT-7 (Gran Tierra 100% barite (a high-density mineral added to drilling
underway include a solar photovoltaic plant to WI) Blocks being temporarily shut-in. The mud to increase volumes for the management of
be operational in end-2022, plus subsoil and sur- blockade started during the last week of October pressure in the wellbore). Logs were taken of the
face optimisation projects. 2021, and the Colombian government has been newly drilled section before shut in. Sufficient
In the Platanillo block (GeoPark operated, successful at negotiating an end to this blockade. additional supplies of barite have been iden-
100% WI), main actions underway include Current Production Ramping Back Up: tified both in Cuba and the immediate region
increasing use of gas for energy generation plus Now that the blockade has ended, the Com- and efforts are underway to have it delivered to
subsoil and surface optimisation projects. pany is working to quickly restore Suroriente’s the drilling site as soon as possible. The break
Near-term actions include construction of and PUT-7’s production levels to their current in operations will allow necessary maintenance
additional solar photovoltaic plants, infrastruc- approximate capacity of 4,400-4,600 bpd. Gran work to be performed and key operational staff
ture to limit routine flaring and venting and Tierra’s current average total production1 is back to be rested.
geothermal power generation projects. Medi- up to approximately 30,500 bpd. As a result of the extent of the net pay iden-
um-term actions include small-scale hydro- Gary Guidry, President and CEO of Gran tified in the Upper Sheet (Amistad), planning
power projects, reforestation and afforestation Tierra, commented: “We are pleased that we are work has commenced for the drilling of an addi-
initiatives, among others. Longer-term actions safely and diligently ramping operations back up tional well there to better understand and test
may include carbon capture, use and storage in the southern region of the Putumayo Basin. this zone. It is expected that drilling would be
projects and potential participation in carbon The Colombian government has been very sup- conducted from the same pad and immediately
markets. portive in resolving the blockade and disruption following the completion of the existing two well
James F. Park, CEO of GeoPark, said: in the area where we have operations. Although drilling programme using available in country
“GeoPark was built for the long-term to be a the blockade modestly impacted Gran Tierra’s inventory to minimise permitting, logistics and
leader among independent oil and gas explo- fourth quarter of 2021 production volumes, we expense. Mapping of the Amistad section is pro-
ration and production companies in Latin believe that barrels not produced this quarter gressing and preliminary findings are expected
America on the foundation that our operations will simply be deferred to future quarters, with to be discussed with the joint operation partners
would create value and have a positive impact no expected impact on reserves. With produc- later this month, a necessary precursor to defin-
on all stakeholders. Our carbon reduction plan tion restored and strong world oil prices, we are ing the exact objectives of any additional well.

P14 www. NEWSBASE .com Week 45 11•November•2021