Page 13 - LatAmOil Week 04 2020

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Karoon Energy spuds Marina-1 well offshore Peru
Karoon Energy has announced that the Stena Forth Drillship has commenced the drilling of the Marina-1 exploration well located in Block Z-38 Tumbes Basin, Peru. The wholly owned, Karoon subsidiary, KEI (Peru Z-38) Sucursal del Peru is the operator and has a 40% net interest in Block Z-38.
The drilling operation is estimated to take 30 days and will drill to approximately 3,000 metres subsea. The Stena Forth Drillship is a state-of- the-art drillship with an exceptional record of drilling wells worldwide, successfully and inci- dent free. The Stena Forth was chosen because it meets and exceeds all engineering, health, safety and environmental requirements of Karoon and its joint venture partners, as well as those of the Peruvian government regulatory requirements.
The Marina prospect has a gross prospective resource best estimate of 256mn barrels of oil (net to Karoon, 102mn barrels) as previously announced in the Resources Update dated May 8, 2018.
Marina Prospect, Block Z-38 Tumbes Basin Peru: The Marina prospect comprises a large fault bounded structure with targets at multiple levels from 900 metres subsea to 3,000 metres. The targets are in the Tertiary Pliocene La Cruz to Cardalitos formations.
The structures are well defined by 3D seismic. Nearby hydrocarbon seeps demonstrate that migrating hydrocarbons are present, supported by seismic AVO anomalies indicative of trapped oil at Marina.
Karoon’s wholly owned subsidiary, KEI (Peru Z-38) Sucursal del Peru, owns a 40% operating equity interest in the Blocks with Tullow Oil holding 35% and Pitkin Petroleum holding the remaining 25% equity interest.
Note: Karoon Energy farmed out a 35% par- ticipating interest in offshore exploration Block Z-38 to Tullow Oil in January 2018, with com- pletion in May 2019.
Karoon Energy, January 28 2020
Trinidad: Columbus Energy
announces first injection
of CO2 in Trinity Inniss field
to continuous injection of CO2 as is required to fully evaluate the potential of CO2 injection to increase oil production from the offset wells.
The company’s interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas, whereby Predator will help plan and fund the CO2 EOR pilot project. As part of the agreement, Predator has the right (until Septem- ber 30, 2020) to purchase the company’s interest in the Trinity Inniss field for US$4.2m. Columbus Energy, January 27 2020
Columbus Energy to test
Saffron well on South West
Peninsula in Trinidad
Columbus Energy has announced the following operational update regarding the Saffron well, onshore Trinidad: completion of the interpreta- tion of the Saffron cased hole logging, with the result supporting the completion and testing of the Saffron well in February 2020; and submis- sion of a Saffron well test application to the Min- istry of Energy and Energy Industries.
Leo Koot, Executive Chairman of Columbus, commented: “The Company has now completed the interpretation of the cased hole logging for the Lower Cruse portion Saffron well. The inter- pretation for the Upper Cruse and Middle Cruse are expected shortly. The logging does not mate- rially alter the company’s previous announce- ment that the company has drilled multiple sand packages with high sandstone content and mul- tiple oil shows to total depth (TD). The interpre- tation of the logging gives the company comfort that it should proceed with the completion and testing of the well.
Columbus Energy, the oil and gas producer and explorer focused on onshore Trinidad and Suri- name, has announced the first injection of CO2 in the Trinity Inniss field, onshore Trinidad.
Leo Koot, Executive Chairman of Columbus, commented: “The company has successfully injected the first tranche of CO2 in the Trinity Inniss field. The CO2 project is an important enhanced oil recovery project for both the com- pany and Trinidad. I look forward to updating the market as to the results of the CO2 pilot pro- ject in due course.’
As previously announced, the term of the Trinity Inniss incremental production service contract (IPSC) has been extended to allow for the implementation of the CO2 pilot project.
The company has now injected the first tank CO2 into well AT5X in the Trinity Inniss field and will over time contribute to the determina- tion of any impact on enhancement of produc- tion in offset wells to AT5X. The company and Predator, its joint venture partner, will proceed
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