Page 11 - LatAmOil Week 47 2019

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Amerisur Resources
awarded Block PUT-36 in
Colombia’s Putumayo Basin
Amerisur Resources, the oil and gas producer and explorer focused onshore Colombia, has announced a portfolio update.
The ANH announced that as part of the Pro- ceso Permanente de Asignacion de Areas 2019 round, Amerisur Resources was awarded Block PUT-36. The company holds a 100% work- ing interest in the block, which covers approx. 59,902 hectares and lies within the Putumayo basin, immediately north of the 50% owned Mecaya Block. The work commitments in the first phase (over 36 months) include acquisition of 3D seismic and two exploration wells with a minimum spend of $26m.
John Wardle, CEO of Amerisur Resources said: “We are pleased to secure acreage that expands our strategic position in the Putumayo Basin, onshore southern Colombia.”
Amerisur Resources, November 27 2019
Argentina: Echo Energy
commences Tapi Aike
drilling
Echo Energy, the Latin American-focused upstream oil and gas company, has commenced drilling of the Campo La Mata x-1 well on the company’s Tapi Aike block following the mobi- lisation of the Petreven H-205 rig to location earlier this week. CLM x-1 is the first well of an expected four-well Tapi Aike exploration drilling programme and is located in the eastern portion of the 3D seismic area, the Chiripia Oeste.
The primary target of CLM x-1 is a strati- graphic trap which lies in the Magallanes For- mation at an approximate depth of 2,000 metres TVD. A secondary horizon in the Anita For- mation (D3) and a shallower secondary inter- val (Magallanes 60) will also be targeted by the well and is expected to be encountered at depths of 2,225 metres TVD and 1,925 metres TVD respectively. Technical work with the operator, Compania General de Combustibles (CGC), has identified a high negative amplitude signature at the target area and Class III amplitude vs offset characteristics.
The well will be drilled to a total measured depth of approximately 2,600 metres in two ver- tical sections. Furthermore, a core sample from Magallanes 20 will be extracted and tested, and a full suite of wireline logging will be conducted over all targeted intervals.
Completion of CLM x-1 is expected to take approximately four weeks. Should the results of drilling and logging support further opera- tions, drilling and logging may be followed by a mechanical stimulation and well test, which is a standard technique in the basin. This is antici- pated to take a further five to six weeks.
Echo Energy, November 21 2019
DOWNSTREAM
Petrobras starts binding phase of refinery sales
Petrobras, following up on the release dated August 30, 2019, reports the beginning of the binding phase regarding the first stage of the sale of refining and associated logistics assets in the country, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, Presidente Getúlio Vargas (REPAR) in Paraná and Alberto Pas- qualini (REFAP) in Rio Grande do Sul and their corresponding logistics assets. Potential buyers qualified for this phase will receive a process let- ter with detailed instructions on the divestment process, including guidance for due diligence and submission of binding proposals.
The operation complies with Petrobras’ divestment guidelines and with the special regime of asset divestment by federal mixed-cap- ital companies, provided for in Decree 9,188/2017. This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at creat- ing value for our shareholders.
RNEST is located in the state of Pernambuco
and has a processing capacity of 130,000 barrels per day (5% of Brazil’s total oil refining capac- ity) and a potential to double its capacity with the entry of a second processing line, reaching 260,000 bpd. Its assets include a storage terminal and a network of short pipelines (101 km).
RLAM is located in the state of Bahia, has a processing capacity of 333,000 bpd (14% of Brazil’s total oil refining capacity), and its assets include four storage terminals and a set of pipe- lines totaling 669 km.
REPAR is located in the state of Paraná, has a processing capacity of 208,000 bpd (9% of Brazil’s total oil refining capacity), and its assets include five storage terminals and a network of pipelines in total of 476 km.
REFAP is located in the state of Rio Grande do Sul, has a processing capacity of 208,000 bpd (9% of Brazil’s total oil refining capacity), and its assets include two storage terminals and a set of pipelines totaling 260 km.
Petrobras, November 22 2019
LNG
Canacol Energy starts production and sale of LNG
Canacol Energy is pleased to announce that it has commenced the production and sale of LNG, the first such operation in Colombia. The corporation is also in negotiation with Galileo Technologies to form a joint venture which will install terminals at other locations in Colombia and supply end user solutions with the objective to replace diesel, fuel oil, compressed natural gas, propane and other fuels with LNG.
Week 47 28•November•2019
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