Page 19 - LatAmOil Week 45

LatAmOil NEWS IN BRIEF LatAmOil

facilities. In addition, with a large-capacity open Hill and Gautier formations constitute the main
deck area and telescopic gangway, the Safe Notos source rock in this region, equivalent to the
provides Petrobras with 300-tonne lift capability. Canje Formation offshore Guyana. Addition-
Jesper Kragh Andresen, CEO of Prosafe ally, the Early Miocene oil-prone Cipero for-
says: ‘Prosafe `is pleased that an agreement has mation source rock has potential for maturity
been found to extend the Safe Notos throughout where burial depth is sufficient, in the deepwater
almost all of 2021 at a premium rate compared Columbus Basin.
to recent auctions. The Safe Notos has performed PGS, November 08 2020
extremely well since commencing operations
with Petrobras in December 2016, and we look
forward to the continued operations.’ INVESTMENT
Prosafe, November 09 2020
PGS, ION collaborate on Petrofac sells 51% stake
Earlier this year, the partnership entered into in Mexican operations
front end engineering and design (FEED) con- data package for Trinidad
tracts with early commitments and pre-invest- Further to its statement of September 19, 2019,
ments for the Bacalhau field with MODEC for Open Bid Round Petrofac has completed the sale of its remaining
FPSO and Subsea Integration Alliance (SIA) for 51% interest in its upstream IES operations in
SURF. The awards have an option for the execu- PGS and ION are offering a comprehensive 2D Mexico, including Santuario, Magallanes and
tion phase under a lump sum turnkey contract data package comprising over 25,615 km off- Arenque, to Perenco Energies International.
setup which includes engineering, procurement, shore Trinidad and Tobago. These six datasets Perenco now owns 100% of the operations in
construction and installation (EPCI) for the offer an exploration advantage for bidders in Mexico. This transaction largely completes the
entire SURF and FPSO scopes. Trinidad’s Open Bid Round. Group’s programme to dispose of non-core
Partners in Bacalhau: Equinor 40% (opera- Six individual MC2D data packages are avail- assets.
tor), ExxonMobil 40%, Petrogal Brasil 20% and able targeting areas relevant for the ongoing Gross cash consideration received on com-
Pré-sal Petróleo SA (PPSA, non-investor Gov- Trinidad & Tobago round: Deepwater Atlantic pletion was $82.7mn. In total, Petrofac has
ernment Agency). Area | MCS DWECMA 2D GeoStreamer | 1,966 received $120.2mn to date from the sale of its
Bacalhau field facts: Discovery was made by km of long-offset broadband 2D; Patao High | 51% interest in its Mexican operations. Proceeds
Petrobras in 2012; Equinor operator since 2016; MCS NCMA 4-5 2D | 2,352 km of high-reso- from the sale will be used to reduce gross debt.
Bacalhau will be the first greenfield develop- lution 2D seismic; Western Tobago Sub-Basin Further consideration of up to $155.8mn is
ment in the pre-salt by an international operator; | MCS Tobago Trough 2D GeoStreamer | 2,448 potentially receivable, comprising: $80.2mn
Located at a distance of 185 km from the coast km of long-offset broadband 2D; Trinidad plus interest payable on completion, which is
of the municipality of Ilhabela/SP, in the state of Regional Line | CaribeSPAN | Approximately 5 disputed by Perenco (Petrofac will initiate for-
São Paulo, in water depths of 2,050 metres; Phase 700 km of high-quality, long-offset, PSDM seis- mal legal proceedings against Perenco to recover
1 development capacity of 220,000 bpd; First oil mic data, supplemented by 5,200 km of deeply this balance); and up to $75.6mn contingent on
production is planned in 2024. imaged reprocessing on a tight 4-km grid; future milestones, including field development,
Equinor, November 10 2020 Darien Ridge | Trinidad Ultra Deep 4,900 km of commercial, service contract transition and fis-
reprocessed, vintage data located over the east cal terms.
Prosafe signs Safe Notos of Trinidad. Energy Reform programme and the outcome
The uncertainty surrounding the Mexican
Trinidad’s Geologic Story: The Neogene-Re-
contract extension with cent deepwater Trinidadian basins were formed of other events is expected to result in a mate-
during the arrival of the Caribbean Plate by a rial non-cash impairment charge to be recog-
Petrobras offshore Brazil complex interaction with the pre-existing Atlan- nised at December 31, 2020. This exceptional
impairment charge will take into account man-
tic Plate.
Prosafe has signed a contract extension with This west-to-east collision resulted in the sub- agement’s assessment of the fair value of future
Petrobras Netherlands for the provision of the duction of the Atlantic Plate by the overriding consideration receivable.
Safe Notos semi-submersible vessel for safety Caribbean Plate and an oblique collision with Petrofac, November 03 2020
and maintenance support offshore Brazil. the northern South American passive margin.
The original three years and 222-day firm This advancement of the Caribbean was coe-
period was due to complete in July 2020, but val with the Miocene initiation of the Orinoco PERFORMANCE
the extension will result in operations through Delta in the eastern Venezuela-Trinidad region
to mid-November 2021. The contract extension and was responsible for the deposition of main GeoPark reports
allows for up to 30 days for 5-yearly class renewal reservoir intervals in the basin.
inspections. Total value of the contract amend- In the deepwater, sediment loading from the Q3-2020 results
ment including the extension is approximately delta-generated shale walls and diapirs in the
$28.7mn. Columbus Basin while strike-slip faulting in the GeoPark, a leading independent Latin American
The Safe Notos, a technologically advanced Tobago Trough to the north, formed basement oil and gas explorer, operator and consolidator
and efficient Dynamically Positioned (DP3), highs, such as the Patao KK High. Both basin with operations and growth platforms in Colom-
harsh environment semi-submersible safety settings offer significant structural and strati- bia, Peru, Argentina, Brazil, Chile and Ecuador,
and maintenance support vessel, can accommo- graphic trap potential. reports its consolidated financial results for the
date up to 500 persons with extensive recreation Shales from the Late Cretaceous Naparima three-month period ended September 30, 2020.

Week 45 12•November•2020 www. NEWSBASE .com P19