Page 10 - LatAmOil Week 30

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Frontera announces
resumption of production
from Block 192 in Peru
Frontera Energy today announced that repairs have been completed on the NorPeruano pipeline in Peru. It has now resumed normal operations, allowing the company to restart pro- duction from Block 192. Current production is 2,910 barrels per day (bpd) and is expected to continue to ramp back up to over 9,000 bpd. It is now anticipated that the contract relating to Block 192 will be extended to at least February 2020.
On June 18, 2019, the Company was noti ed by Petroperu, the operator of the NorPeruano pipeline, of a force majeure event affecting a portion of the pipeline as a result of an attack at Kilometer 237 near pump station 5 of the North Branch Pipeline located in the Manseriche dis- trict. e pipeline was repaired, but as part of an ongoing community dispute local residents were not permitting Petroperu to conduct activ- ities necessary to resume pumping oil through the pipeline. Effective July 1, 2019, Frontera started to shut down production from Block 192, located over 200 km from the site of the incident, while the authorities worked to resolve the dis- pute and gain access to the pipeline.
Frontera Energy Corporation is a Canadian public company and a leading explorer and pro- ducer of crude oil and natural gas, with opera- tions focused in South America. e Company has a diversi ed portfolio of assets with interests in more than 40 exploration and production blocks in Colombia, Peru, Ecuador and Guyana. Frontera Energy, July 30 2019
MIDSTREAM
YPF advances LNG exports
with the co-operation of
Excelerate
YPF announced today that a preliminary agree- ment was reached with Excelerate Energy for the charter of a lique ed natural gas (LNG) car- rier, which will export LNG produced from the TANGO FLNG unit, located in Bahía Blanca, to the global natural gas market.
Both parties will be executing the nal agree- ment in the coming days, with the objective of starting operations the rst week of September.
“We continue progressing in our ambition to add value to Argentinian natural gas and to
export surpluses during those months of low local consumption, to fully extract the potential as producer and exporter of Argentinian natural gas,” said Marcos Browne, executive vice presi- dent of gas and energy of YPF.
Gabriela Aguilar, general manager of Excel- erate in Argentina, added: “It is a milestone for us to partner with YPF in this activity by con- tributing all of our industry know-how in the transportation of Argentinian natural gas to the world.”
The natural gas, produced mainly from Vaca Muerta, will be processed by the TANGO FLNG unit at the “Mega” port in Bahia Blanca, and from there it will be transported by the LNG carrier EXCALIBUR, which has a storage capacity of 138,000 cubic metres. e loading of YPF’s product to the LNG carrier will be carried out through an operation that will last approxi- mately 45 days.
e ship provided by Excelerate has proven experience in the main international LNG ter- minals and as part of this agreement will be in service to YPF until May 2020. It will be one of two ships that YPF will utilise to transport Argentinian LNG to the global market.
YPF, July 25 2019
SERVICES
Weatherford awarded
contract with Colombian
operator
Weatherford International has announced a contract win with a Colombian operator to migrate seven LOWIS® sites (3,000 wells) to the company’s ForeSite® Production Optimization so ware platform. Under the newly signed con- tract, the company will provide all maintenance
and services for the so ware platform for ve years, as well as all technical and production ser- vices required to allow production performance management. The contract also provides for migrating the operator’s remaining major and minor elds to ForeSite.
Weatherford’s production optimisation tech- nology extends from the wellbore to the point of sale, encompassing asset management work- ows for the life of any well, from natural ow to all forms of arti cial li in addition to hydro- carbon ow in pipelines and surface facilities. ForeSite is the industry’s only enterprise-level production optimisation platform.
Previously, the operator utilised LOWIS, a standard well monitoring and li optimisation application. e operator decided to expand its current engagement with Weatherford to also include the company’s industry-leading produc- tion optimisation technology.
Weatherford software has proven itself in some of the most challenging elds around the world as a production optimisation platform that empowers producers to realise eld-wide intelligence to maximise production. e oper- ator will deploy Weatherford’s ForeSite produc- tion optimisation technology to transform their data into performance and allow them to mon- etise that data.
Weatherford International, July 24 2019
FINANCE
Petrobras announces
pricing of public offering of
Petrobras Distribuidora
Petrobras announced yesterday the pricing of the secondary public o ering of shares of Petro- bras Distribuidora (“BR Distribuidora”).
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Week 30 31•July•2019