Page 15 - LatAmOil Week 35 2021
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LatAmOil                                    NEWS IN BRIEF                                          LatAmOil








                                                                                the petrochemical segment, as foreseen in its
                                                                                2021-2025 Strategic Plan, aiming to integrate its
                                                                                Exploration and Production (E&P) and Refining
                                                                                activities.
                                                                                  The company reaffirms that there is still no
                                                                                definition or decision on the matter.
                                                                                Petrobras, August 30 2021


                                                                                SERVICES
                                                                                Maersk Drilling secures

                                                                                one-well contract extension

                                                                                for Maersk Discoverer

                                                                                The work is expected to commence in the
                                                                                first half of 2022 in direct continuation of the
                                                                                semi-submersible rig Maersk Discoverer’s con-
                                                                                tract with Shell Trinidad. With this option called,
                                                                                Maersk Discoverer is fully booked throughout
       Operational Update: The Company has con-  Cruz Sur continue with the delivery of produced  2021 and part of 2022.
       firmed that following installation of the pipe-  gas to industrial customers under contract with   “It’s a pleasure working for CGX. The rig has
       line required to bring back on line the liquids  premium winter pricing being achieved. Pro-  successfully spudded the first well and we are
       production that was shut in April 2020, the  duction over the period from January 1, 2021, to  grateful for the opportunity to support their
       infrastructure has now been successfully com-  August 23, 2021, reached an aggregate of 381,243  continued success in Guyana. The region holds
       missioned for operation and shut-in wells are  boe net to Echo, which included 48,211 barrels  great potential and with our multiple active rigs
       being brought online. This follows an upgrade of  of oil and condensate and 1.998bn cubic feet  in the area, we are well positioned to tap into the
       the electrical infrastructure, which was designed  (56.58mn cubic metres) of gas.  positive outlook for hydrocarbon developments
       to support the first tranche of production from   Martin Hull, CEO of Echo Energy, com-  in the Americas,” says COO Morten Kelstrup of
       the Campo Molino and Chorillos oilfields to  mented: “During Q3-2021, we have contin-  Maersk Drilling.
       provide sufficient power to support sustained  ued to make significant operational progress   Maersk Discoverer is a DSS-21 column-stabi-
       production from the associated ten wells. These  and deliver against our objectives. Successfully  lised dynamically positioned semi-submersible
       upgrades are also part of the Company’s strat-  increasing our liquids production is an impor-  drilling rig, able to operate in water depths up to
       egy to control critical infrastructure previously  tant milestone. There remain further production  10,000 feet (3,048 metres). It is currently oper-
       rented from contractors.            upsides as we continue through the programme  ating offshore Guyana for CGX Resources Inc.
         To date, the Campo Molino oilfield has been  of reopening previously shut-in wells. Increased  Following the contract with CGX, the rig will
       brought back online with four of the shut-in  production combined with the continuing  commence a contract with BG International, a
       wells now back in operation and producing from  marked upswing in global commodity prices  subsidiary of Shell, in Trinidad and Tobago as
       the Springhill reservoir. This first tranche of  materially increases our cashflows enabling rein-  stated in Maersk Drilling’s recent fleet status
       restored production will increase the number of  vestment to further drive growth. The ongoing  report.
       active producing oil wells at Santa Cruz Sur to 18.  production increases have been achieved while   Maersk Drilling, August 31 2021
         As of August 23, 2021, the recently reacti-  maintaining our careful cost management in
       vated wells have contributed to an almost 50%  order to maximise value for shareholders.”
       increase in total liquids production at Santa Cruz   Echo Energy, August 26 2021  PERFORMANCE
       Sur compared to the period immediately prior to
       this (281 bpd gross, 197 bpd net to Echo during                          PetroTal announces Q2-2021
       the period August 1-17, 2021). This represents  PETROCHEMICALS
       an increase of 137 bpd gross, 95 bpd net to Echo                         financial, operating results
       and work continues to bring the remainder of   Petrobras comments on
       the first tranche of shut-in production back                             PetroTal, a Company focused on the develop-
       online. The production levels from the initial   plan to sell Braskem stake  ment of oil assets in Peru, has announced its
       reactivated wells indicate that the shut-in period                       financial and operating results for the six- and
       has not had a detrimental impact on reservoir  Petrobras informs that, following up on the  three-month periods ended June 30, 2021.
       behaviour in the Campo Molino oilfield. Prior  releases disclosed on June 8, 2021, and August   Highlights: Outperformed Q2-2021 produc-
       to shut-in, the combined gross production from  9 and August 20, 2021, it maintains its position  tion guidance by 2% and Q1-2021 production
       the 10 oil wells was approximately 138 bpd gross,  of seeking the full sale of its interest in Braskem  by 21%, delivering 8,839 bpd under constrained
       96 bpd net to Echo, approximately the same level  and is monitoring the process of divestment of  production conditions, as previously described
       now being achieved from the initial four wells,  the stake held by Novonor.  in the Company’s July 20, 2021 RNS. Generated
       with the associated upgraded infrastructure.  As part of its active portfolio manage-  a significant increase in revenue of $42.8mn
         Daily operations across the asset base in Santa  ment, Petrobras evaluates opportunities in  ($53.20 per barrel) in Q2-2021 versus $32.4mn



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