Page 15 - LatAmOil Week 26 2022

LatAmOil NEWS IN BRIEF LatAmOil

Environmental Incident: On Wednesday, June
22, 2022, an oil transfer line on our Fyzabad
block was cut. We have determined that the
cut line was an act of vandalism, and the local
police and all relevant in-country authorities
have been notified. Based on current informa-
tion, we estimate that approximately 250 barrels
of oil was released. No personal injuries were
reported, and reclamation efforts are underway.
All impacted residents are being assisted while
cleanup activities are conducted. Touchstone
has engaged a contractor to monitor air quality
across the affected area, and the return of resi-
dents to their homes will be guided by the ongo- oil) peak rate of 12-13 degrees API crude. Aberdeen-headquartered company support new
ing test results. We will continue to support those The zone was tested June 13 for 38.5 hours oil and gas developments in offshore Block 58
affected during the duration of the cleanup and at an average rate of 33 bpd of oil (net 16.5 bpd and collaborate with local businesses to encour-
reclamation and do not expect a material impact of oil). Test results are not necessarily indicative age regional investment and key recruitment
to our base production expectations as a result of long-term performance or ultimate recovery. opportunities for local people.
of this matter. After the C7B test performance, the deci- Following its well-established business
Paul Baay, President and CEO, commented: sion was made to put the C7B on production. model, which allows it to set up a supply base
“We are pleased that we are nearing completion Arrow decided not to test the up-hole C7 zones, in new operating locations within a short time
of the Coho project. We are currently focused and the Gacheta C, as they had been proven to frame, ASCO will ensure all work is delivered to
on the final phase which is the tie-in at the Cen- be oil bearing in RCE-2. The test of the Gacheta the highest industry standards, whilst benefiting
tral block. The components required for the B zone was cut short due to formation water local business and communities.
assembly have been designed and fabricated in production. Fraser Stewart, International MD at ASCO,
Trinidad and are onsite being installed by a local Marshall Abbott, CEO of Arrow, com- explains: “Our frontier model ensures that rel-
contractor. Following installation, the assembly mented: “We’re encouraged by the material evant compliance with international standards
will require testing and commissioning prior to results of RCS-1, the third well on the Tapir is met while we develop and hone new skills in
first gas, with production volumes expected to block. RCS-1 identified new zones for further the local market, enabling self-sufficiency in the
double our current production on a boe basis. exploitation with flowing results returning better long-term. The focus on capability, and not just
Concurrently, there has been consistent activity than expected. We’re currently completing the on local jobs, ensures the economic benefits are
at Cascadura while we await receipt of the EIA C7B zone, targeting to be on stream this week. shared across the local economy.
approval. We would like to thank our stakehold- This increases Arrow’s production and reserves. “Although the model is a more recent
ers for their continued patience, and we look The Company intends to bring RCS-1 on slowly approach, it’s founded on ASCO’s legacy of suc-
forward to updating the market in due course.” and increase production to best manage the oil cess in establishing new worldwide locations
Touchstone Exploration, June 27 2022 reservoir. over the last three decades. All our overseas
“Arrow’s current production is providing operations are managed and operated by local
Arrow Exploration positive cashflow for the Company during a personnel. We’re now moving ahead with our
high commodity price environment. Continued next project in Suriname and are keen to talk to
announces test strong production rates from existing tied-in other emerging energy markets that need to set
wells combined with the encouraging results up supply bases.”
results of RCS-1 well from new drills in Colombia support the Com- ASCO has already deployed its model dur-
pany’s objective of achieving a production rate of ing the establishment of the Senegal Supply Base
Arrow Exploration has announced the results of 3,000 boepd within 18 months of its AIM listing (SSB) in Dakar in 2021. Developed in less than
the Rio Cravo Sur-1 (RCS-1) well testing on the (completed in October 2021). This is an exciting six months, ASCO was asked to support SSB as a
Tapir Block in the Llanos Basin of Colombia. time for Arrow, and we look forward to provid- technical partner by providing offshore logistics
The RCS-1 well was spud on May 23, 2022. ing further updates on our progress.” technical expertise to support the development
RCS-1 targeted a three-way fault bounded struc- The RCS-1 well costs came in under budget. of the Sangomar field.
ture with multiple high-quality reservoir objec- Arrow Exploration, June 27 2022 Deborah Benjamin, Managing Direc-
tives on the Tapir Block in the Llanos Basin of tor-Trinidad and Tobago at ASCO, added:
Colombia. The well was drilled to a total meas- ASCO to support operations “Our track record in West Africa and Trinidad
ured depth of 8,656 feet (8,105 feet true vertical and Tobago demonstrates how we can support
depth) and encountered six hydrocarbon bear- in Suriname and unlock countries managing their oil and gas develop-
ing intervals totaling 55 net feet of oil pay. ments. With the operations we have established
Specific production test rates for the isolated in-country potential in Senegal already transitioning to an entirely
new zones (shallowest to deepest) include: Car- locally driven business, our operational model
bonera C7B: tested 1872 bpd of oil (net 936 bpd Global integrated logistics and materials man- is proving to be effective for both ASCO and the
of oil) peak rate of 30 degrees API crude. agement company ASCO has signed an agree- local economy. I look forward to bringing this
The zone was tested on June 22 for 33 hours ment with Kuldipsingh Port to provide technical same model to Suriname, focussing on upskill-
at an average rate of 1,076 bpd of oil (net 538 bpd expertise for its supply base operations, playing a ing local personnel and supporting the region to
of oil). major role in Suriname’s energy industry. drive growth in the energy industry.”
Ubaque: tested 184 bpd of oil (net 92 bpd of The agreement will see the ASCO, June 24 2022

Week 26 30•June•2022 www. NEWSBASE .com P15