Page 15 - LatAmOil Week 12 2022

LatAmOil NEWS IN BRIEF LatAmOil

Though some Member States are making good Cooperation and Development. of ANH sliding scale royalties. No risk has been
progress, it is necessary to ensure that decisions CCREEE, March 22 2022 assessed to the prospective resources (leads), as
and planning are evidence-based. With this in the leads: 1) have to be upgraded to prospects 2)
mind, the three-day Caribbean Energy Statistics before risk can be addressed. In completing their
and Information Conference was conceived. POLICY evaluation, Petrotech noted that there is limited
The Conference, which targets technical seismic coverage to conduct a complete struc-
offers within energy, climate change and statis- Head of NGC’s CNG tural/stratigraphic interpretation in the north-
tics ministries, also featured the launch of two ern portion of the Sinú 9 Block. In addition, not
data enhancement tools intended to assist the division retires all the 2D seismic lines are available and some
region in meeting its energy goals and targets: the of the images of the lines are not clear. Four 2D
CARICOM Energy Knowledge Hub’s (CEKH) President of NGC CNG Co. Ltd, Curtis Moham- seismic lines (with a total length of 258.2 km) are
new data portal with a renewable energy and med, departs NGC CNG on April 21 ahead of used to interpret the occurrence of a sedimenta-
energy efficiency donor activity application and his pending leave and retirement in October tion section resulting in two seismic reflectors in
the CARICOM Energy Information System (sie- 2022. Mohammed is credited for spearheading the top and the base of the sedimentary section.
CARICOM), developed by the Latin American the company’s CNG Division between 2013 and The sedimentary section is likely to contain the
Energy Organisation (OLADE). 2022, delivering some TTD1.17bn of business San Cayetano and Maco Formations in the Sinú
During the opening session and concurrent and benefits to consumers and other stakehold- 9 Block. Using isochron data and the ANH LA
launch of the sieCARICOM, OLADE’s Execu- ers. At the time of Mohammed assuming the X-1 Stratigraphic Well, which contains good
tive Secretary, Numar Alfonso Blanco-Bonilla leadership of the company, NGC CNG had a oil shows in various sections of the cores, as the
remarked that, “we have a very important com- mandate to establish 22 service stations and con- reference point, the low, best and high estimated
mitment to the region to improve the quality vert approximately 17,500 vehicles. Mohammed areas of this lead was mapped. The ANH LA X-1
and quantity of information on the energy sec- who has had a sterling track record for deliver- Stratigraphic Well was drilled in 2015 to a total
tor; that is important information we need for ing on plan, met all the targets, and continued to depth of 4,130 feet. Various cores were taken in
the region to achieve our environmental and grow usership, especially among long-haul driv- nine intervals totaling 369 feet between 564 feet
development goals.” Likewise, as a key Confer- ers, through expansion and upgrade of stations. and 4,108 feet together with an electric (SP and
ence and programmatic partner, the Technical NGC, March 23 2022 resistivity) log to a depth of 3,505 feet. The volu-
Assistance Programme for Sustainable Energy metric method is used to estimate the recovera-
in the Caribbean’s (TAPSEC) Simon Zellner ble unrisked prospective resources (lead).
shared that information is the foundation of the PROJECTS & COMPANIES Based on the foregoing, the Sinú 9 Oil
Caribbean region’s drive to create a future where Resources Report estimates the following pro-
all its citizens have access to clean, modern and NG Energy notes light spective resources:
affordable energy services. Unrisked Prospective Resources (Subcat-
He said, “Before there can be strong policies crude oil prospective egory: Leads): Estimates of Recoverable Light
and regulations guiding the regional transfor- Crude Oil, 100% Working Interest (76,231.50M
mation, there has to be high-quality energy resources at Sinú 9 block barrels low-end scenario, 279,336.90M bar-
data, statistics and information…it will inform rels best-case scenario, high-end scenario
the decisions being made in boardrooms and NG Energy International Corp. is pleased to 608,665.00M barrels) and Company’s 72%
by governments across Member States. And it announce the results of the report entitled “Eval- Interest (54,886.68M barrels low-end scenario,
will ultimately inform the region’s path towards uation of the Interests of NG Energy Interna- 201,122.57M barrels best-case scenario, high-
sustainability.” tional Corp. in the Prospective Resources within end scenario 438,238.80M barrels).
Also in attendance, representing CARICOM the Sinú 9 Block in the Sinú San Jancinto Basin It is the intention of the Company to drill
institutions, was Rodinald Soomer of the CDF of Colombia” prepared by Petrotech Engineer- a twin well offsetting the ANH LA X-1 Strati-
and Dr. Gary Jackson of the CCREEE. Both ing Ltd. The Sinú 9 Oil Resources Report has an graphic Well to evaluate and test the light oil
organisation Heads highlighted the importance effective date of February 28, 2022, and a sum- in the sedimentary section of the cores. If suc-
of partnership, which is at the core of regional mary of the key parameters and conclusions of cessful in testing, it is recommended that the
integration. Jackson noted that partnership the report is presented below. Company conduct a 2D or 3D seismic survey in
and participation is required today and beyond SINÚ 9 Block in the Sinú San Jacinto Basin the surrounding area to provide adequate cov-
today, in order to leave no one behind, aligning of Colombia: The Company’s working interest erage for mapping the potential discovery for
with Soomer’s positing that the region’s goals in the Sinú 9 Block is 72%, subject to payment exploitation.
cannot be achieved by any one corporation;
citing CDF’s ongoing partnership with the
CCREEE. During the keynote address, Dr Justin
Ram also made mention of the need for regional
integration. He advocated for connecting the
region as a single economic space.
The Conference received financial support
from the Kingdom of Spain and the Deutsche
Gesellschaft für Internationale Zusammenar-
beit (GIZ) implemented Technical Assistance
Programme for Sustainable Energy in the Car-
ibbean, which is funded by the European Union
and the German Federal Ministry for Economic

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