Page 12 - LatAmOil Week 04 2020

LatAmOil ARGENTINA/PARAGUAY LatAmOil
The trading firm posted a turnover of $171.5bn in 2019. Last July, it made an undisclosed advance payment to President Energy whilst also buying production from the firm’s assets in Argentina.
In Argentina, President Energy has a 90% stake in and is operator of the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases concessions. It also has a four-year exploration contract for the Angostura concession in Rio Negro, according to information on the compa- ny’s website.
In north-western Argentina, the firm has a licence for Puesto Guardian. It also controls two exploration blocks known as Matorras and Ocultar in Salta Province, near the border with Bolivia. These two licence areas surround the Puesto Guardian block.
Meanwhile, President Energy owns a 100% operated interest in the Pirity exploration per- mit in Paraguay. It is due to take a 40% operated interest in the concession during the develop- ment phase and has the rights to earn a larger stake of up to 80%.. ™
FALKLAND ISLANDS
Premier Oil presents updated development plans for Sea Lion
UK-BASED Premier Oil presented the develop- ment plan for Sea Lion, a field within the PL032 block off the coast of the Falkland Islands, at a public hearing in Stanley last week.
During the hearing, company represent- atives said that their intermediate-case sce- nario indicated that Sea Lion was likely to yield around 255mn barrels of crude oil over a period of 20 years. Production will peak at 85,000 bar- rels per day (bpd), they said.
They went on to say that the environmental impact statement (EIS) drawn up for the project had been revised to reflect changes to the origi- nal development programme. The new version notes that Premier Oil and its partner, Rockhop- per Exploration, have opted to use a larger float- ing production, storage and off-loading (FPSO) vessel rather than proceed with their original plan for inshore transfers of oil via the Berkeley Sound Terminal facility, they said.
According to the revised EIS, the partners still plan to establish a number of infrastructure facilities within sight of Stanley, including a drill- ing base, a temporary docking facility (TDF), a mud plant and an operations base. They will also set up a heliport with a hangar and passenger reception area at Port Stanley Airport.
The first stage of the project will last for 42 months and will support 110 onshore jobs and 100 jobs in transit, the company representatives said. The second stage will last for 30 months and will sustain 110 onshore jobs and 75 jobs in transit, while the third stage will last for more than 17 years and will support 40 onshore jobs and 50 jobs in transit.
Premier Oil also said during the hearing that the partners would not depend on Falk- land Islands Government Air Service (FIGAS) flights to Santiago and Sao Paulo for personnel
movements. Instead, they said, there will be weekly flights to the UK out of the Port Stanley Airport.
Equity in PL032 is split between Premier Oil, the operator, with 60%, and Rockhopper Explo- ration (UK), with 40%. The partners have said they expect to spend about $1.8bn to develop the block, which lies in the North Falkland Basin.™
Sea Lion is within the North Falkland basin (Image: Premier Oil)
P12
w w w. N E W S B A S E . c o m
Week 04 30•January•2020