Page 8 - LatAmOil Week 47 2019
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“Based on our recent field production expe- rience of being able to produce 8,000 bpd [of crude oil] with a facility having 5,000 bpd nom- inal capacity, management similarly expects that CPF-1 will be able to handle in the order of 15,000 bpd,” it explained.
It added: “In light of management’s confi- dence that the 5H [well] will behave similarly to the 4H well [drilled at Bretaña], which produced 200,000 barrels of oil in just 35 days and that the CPF-1 will handle more than its nominal oil processing capacity, the company is pleased to increase its year-end production [forecast] from 10,000 bpd to 11,000-13,000 bpd.”
“We are delighted with the progress made on the 5H well and the commissioning of the CPF-1 facilities,” said Manolo Zuniga, the pres- ident and CEO of PetroTal. “We set ourselves an ambitious target of achieving 10,000 bpd by year-end 2019, so to exceed this is of great tes- tament to the team we have assembled. I would like to congratulate our operations and drilling team for [operating] at an extremely high level since we started operations two years ago and showcasing that we can handle more oil than the equipment’s nominal capacity, which is now
allowing us to forecast higher 2019 exit oil rates and, importantly, a strong production base as we enter 2020.”
Bretaña lies within Block 95, which is located in the Maranon Basin in north-eastern Peru. PetroTal conducted a 3D seismic survey of the field in 2014 and has drilled five exploration wells to determine the size of the reservoir. It began extracting oil at the site in 2018 and has estimated the field’s proven and probable reserves at 39.8mn barrels.
The Bretaña field lies within Block 95 (Image: Global Energy Development)
Peru LNG reports exports up year on year in October
PERU LNG, a consortium that operates a gas liquefaction plant and export terminal in Pampa Melchorita, saw export volumes rise year on year in the month of October.
According to data released last week by the national oil company (NOC) Perupetro, Peru LNG loaded five vessels with 805,906 cubic metres of LNG last month. This marked a 9.67% increase in volume on loadings in October 2018, when the group exported some 734,846 cubic metres of LNG via five cargoes.
Even so, total export volumes did decline month on month. According to previously released data, Peru LNG loaded five vessels with 822,015 cubic metres of LNG in September. As a result, exports dropped by nearly 2% on the previous month’s level.
Peru LNG has loaded and dispatched a total of 542 cargoes of LNG since its launch in June 2010. Of the five cargoes despatched in October 2019, two went to South Korea, while the other three went to separate destinations – Spain, France and the Netherlands.
The Peru LNG consortium, which includes the US company Hunt Oil and three partners, spent $3.8bn on the construction of the Pampa Melchorita facility. The complex includes a 4.45mn tonne per year (tpy) gas liquefaction plant, constructed by Chicago Bridge & Iron Co. (CBI), and a marine terminal, which was built by
a consortium known as CDB. (This group con- sists of Italy’s Saipem, Luxemburg’s Jan de Nul and Brazil’s Odebrecht.)
The Pampa Melchorita complex also houses a storage depot that includes two 130,000 cubic metre tanks and a gas supply pipeline. The latter handles gas from fields operated by Spain’s Rep- sol and the Argentinian NOC YPF in the Cusco region. It is a 34-inch (860-mm) pipe that runs for 408 km from Chiquintirca, a town in the Ayacucho region, to the gas liquefaction plant.
Equity in the Peru LNG project is split between Hunt Oil, with 50%; SK Energy (South Korea), with 20%; Royal Dutch Shell (UK-Neth- erlands), with 20%, and Marubeni (Japan), with 10%.
LNG plant and terminal in Pampa Melchorita (Photo: Peru LNG)
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w w w . N E W S B A S E . c o m Week 47 28•November•2019
