Page 15 - LatAmOil Week 49 2021

LatAmOil NEWS IN BRIEF LatAmOil

Barges from Brazil are on site and commenced
oil loading operations on December 3, 2021.
This will allow PetroTal to ramp up production
during the next few days starting with the new
9H horizontal well that was put on production
on December 5, 2021, and recommence sales to
the Iquitos refinery and through the Brazilian
export routes.
Currently, PetroTal has approximately
300,000 barrels of oil on barges, of which 135,000
barrels are near Pump Station No. 1 (PS1) at Sar-
amuro, awaiting Petroperu’s ONP pipeline oper-
ations to restart, and involves reopening PS5.
The remaining barrels on barges are heading to
the Iquitos refinery or to Brazil.
As of December 3, 2021, the protests at
PS1 were resolved, demonstrating the positive
momentum of the initiatives PetroTal is pro-
moting. Regarding Pump Station No. 5 (PS5),
a meeting between the government and the
indigenous federations has been proposed
for December 10, 2021, with the intent to set a
working table aimed at achieving a long-term PetroTal dock. Based on the Company’s initia- development.
solution to the ongoing protests due to lack of tives to promote change and an equalisation of TMC’s marine compressed air system for the
government attention. In exchange for setting up social profits, a sense of confidence and trust was FPSO will consist of large capacity service and
this working table, the protesters have offered a created between our groups. We look forward to instrument air compressors with associated air
30-day truce starting that same day. completing the legal and administrative efforts dryers and filters. TMC has not disclosed the
If the 30-day truce is not achieved, the Com- through the remainder of 2021 for the Social value of the contract.
pany may need to constrain production by the Fund to be live and active in early 2022. We are Malaysian contractor MISC has entered
third week of December 2021. PetroTal is also also seeing the government engaged in achieving into an agreement with Petrobras to supply
commissioning additional barges that would a long-term resolution to the ongoing ONP pro- the Mero-3 floater. TMC will manufacture the
allow the Company to produce unconstrained tests at Pump Stations 1 and 5, which will hope- marine compressed air system in Europe and
through December 2021. Including flush pro- fully lead to a full reopening of the ONP route delivered to the chosen fabrication yard.
duction from the recently drilled and completed in the near term. PetroTal is doing everything Once completed, the FPSO will be deployed
9H well, the Company expects to initially pro- we can to support those discussions. On opera- at the Libra block in the pre-salt Santos basin off-
duce over 18,000 bpd, although this is likely to tions, I need to thank the entire PetroTal team for shore Brazil.
be constrained to manage storage and offtake achieving another exceptional result in the 9H TMC is a global supplier of compressed air
capacity. Beyond December 2021, PetroTal will horizontal oil well, which was opened at more systems for marine and offshore use. The com-
require normal access to Petroperu’s ONP pipe- than 9,000 bpd, a new record for our Bretaña pany is headquartered in Oslo, Norway.
line route to produce unconstrained in 2022. oilfield.” TMC Compressors, December 8 2021
Well 9H Update: PetroTal is also pleased to PetroTal, December 6 2021
announce well 9H was completed on December PGS awarded significant
1, 2021, to fill the wellbore with oil and inflate
the packers. A recent December 6, 2021, initial SERVICES 4D survey offshore Brazil
flow rate achieved approximately 9,000 bpd of
flush production. When available, PetroTal will TMC Compressors to deliver PGS is scheduled to start a significant 4D acqui-
provide the 10- and 30-day average production sition survey for Petrobras over the Roncador
rates for the 9H well. marine compressed air and Albacora Leste fields offshore Brazil in
Liquidity Update: PetroTal is pleased to Q2-2022. Acquisition is expected to complete in
announce that its forward liquidity profile system to Mero-3 FPSO Q3-2022. The contract was awarded earlier and
remains strong with a material cash buffer in is already included in PGS reported order book.
December 2021, which is forecast to continue TMC Compressors (TMC) has been chosen to “We are very pleased to provide this signif-
through Q1-2022 with a continuous capital supply a large marine compressed air system to icant 4D survey for Petrobras in the prolific
programme. This simulated forecast assumes the Mero-3 floating, production, storage and off- Campos basin. We have acquired several 4D
conservative field closure conditions for the loading vessel (FPSO) destined for Brazil. surveys offshore Brazil and gained significant
remainder of 2021, constrained oilfield oper- “As this is a large FPSO that operates far from operational experience. We appreciate Petrobras’
ations, reduced Brent prices, and moderate oil shore, it needs a highly reliable, high-capacity recognition of our Ramform-vessel acquisition
sales from currently loaded barges. marine compressed air system on board. We are platform and our GeoStreamer technology,
Manuel Pablo Zuniga-Pflucker, President also designing it so that the vessel crew can main- which are well suited for large, high-quality 4D
and Chief Executive Officer, commented: “We tain the system by themselves, thereby reducing acquisition programmes,” says PGS’ President
are very pleased to have reached a peaceful set- the need for offshore travel,” says Hans Petter and CEO Rune Olav Pedersen.
tlement with the protesting community near the Tanum, TMC’s director of sales and business PGS, December 3 2021

Week 49 09•December•2021 www. NEWSBASE .com P15