Page 16 - LatAmOil Week 12 2022

LatAmOil NEWS IN BRIEF LatAmOil

The Sinú 9 Oil Resources Report was prepared
in order to assist the Company in its evaluation
of prospective resources located in the Sinú
9 Block and in determining any related work
programmes thereto. As a result, at this time it
would be premature for the Company to identify
(a) the estimated total cost required to achieve
commercial production; (b) the general time-
line of the project, including the estimated date
of first commercial production; (c) the recovery
technology; and (d) whether the project is based
on a conceptual or pre-development study. The
Company will disclose these parameters when
they are determined and as a project, if any, is
developed. pre-salt 4D OBN results.” of 10,975 feet (3,345 metres) and encountered a
Petrotech Engineering Ltd., an independent The baseline 3D seismic survey acquired by total of 125 feet of net pay across seven hydro-
qualified reserves and resources evaluator, has the PXGEO Poseidon OBN crew, covering 575 carbon bearing reservoirs including the Hollin,
conducted this resource evaluation in accord- square km, is already being processed at CGG’s Basal Tena, T and U Sandstones, and Limestones
ance with the Canadian Oil and Gas Evaluation Rio de Janeiro subsurface imaging centre. Its B, A and M2. After two days of initial produc-
(COGE) Handbook. They have also reviewed highly experienced geoscientists are applying tion tests, the Basal Tena formation is producing
the contents of this news release and found it to CGG’s latest proprietary imaging technologies, an average of 1,200 bpd of 27.2 degree API light
be prepared in accordance with National Instru- including time-lag full-waveform inversion, crude oil with a current water cut of 5.2%.
ment 51-101 Standards of Disclosure for Oil and internal multiple attenuation and least-squares Frontera is now preparing the required per-
Gas Activities. migration, to resolve challenging structural mits to move forward with a long-term test at the
NG Energy International Corp. is a publicly uncertainties in the pre-salt and gain better Tui-1 exploration well for at least six months or a
traded E&P company on a mission to provide insight into the reservoir’s geomechanical longer period of time if approved by authorities.
a clean and sustainable solution to Colombia’s behavior. CGG will process the 4D monitor Additional appraisal activities will be conducted
energy needs. The Company intends on exe- survey after its planned acquisition, again by in the near future to confirm size and mid- to
cuting this mission by producing and bringing PXGEO, in 2023. long-term production levels for the multiple
oil and gas to the premium priced Colombian CGG, March 24 2022 potential formations.
market from its concessions, SN-9, a 311,353- At the Jandaya-1 exploration well, produc-
acre block which is adjacent to Canacol’s Nelson Frontera announces tion tests in the lower Hollin formation have
field, as well Maria Conchita, a 32,518-acre block produced 37,674 barrels to date, with current
located in the region of La Guajira. NGE’s team crude oil discovery at daily production of 798 bpd of 27.9 degree API
has extensive technical expertise and a proven light crude oil combined with a 1.7% water cut,
track record of building companies and creating Tui-1 well in Ecuador after 54 days of testing. Production from the Jan-
value in South America. daya-1 and Tui-1 exploration wells is currently
NG Energy, March 24 2022 Frontera Energy today announced that it has being transferred by truck to the nearby Lago
discovered 27.2 degree API light crude oil at the Agrio Facilities at the PetroEcuador fiscalisation
CGG wins another major Tui-1 exploration well on the Perico block (Fron- centre and transported through the SOTE pipe-
line system to Balao Terminal where the crude
tera 50% W.I. and operator) in Ecuador.
4D OBN imaging contract mented: “We are excited to announce a second is exported.
Orlando Cabrales, CEO of Frontera, com-
Frontera holds approximately 16,700 net
offshore Brazil consecutive light crude oil discovery at the Per- acres in the Perico and Espejo exploration blocks
ico block in Ecuador, this time at the Tui-1 explo-
in Ecuador. The blocks are located near existing
CGG has been awarded a two-part Ocean Bot- ration well. Tui-1 well results add to our recent production and infrastructure in Sucumbíos
tom Node (OBN) seismic imaging project by exploration success at Jandaya-1 and increases Province in the northeastern part of Ecuador, in
PXGEO over the Sapinhoá Shared Reservoir in current gross production to approximately the Oriente basin.
the Santos Basin offshore Brazil. The resulting 2,000 boepd from the Perico block. Tui-1 and Frontera Energy Corporation is a Canadian
data will bring improved geological insight to Jandaya-1 production is among the first from public company involved in the exploration,
the asset operator, Petrobras, to assist with bet- acreage awarded during Ecuador’s 2019 Intra- development, production, transportation,
ter management of oil recovery and production campos Bid Round, and we are thankful for the storage and sale of oil and natural gas in South
development. support we’ve received from the Government America, including related investments in
Peter Whiting, EVP, Geoscience, CGG, said: of Ecuador and the communities near the well- both upstream and midstream facilities. The
“With our unequalled track record of successful sites. Looking ahead, additional prospects on the Company has a diversified portfolio of assets
pre-salt OBN projects, CGG is without doubt Perico block have been identified and are being with interests in 34 exploration and production
the world’s leading OBN seismic imaging com- matured for future drilling.” blocks in Colombia, Ecuador and Guyana, and
pany. Although imaging the pre-salt is always On January 28, 2022, Frontera spud its second pipeline and port facilities in Colombia. Fron-
challenging, the experts at our dedicated Rio exploration well, called Tui-1, approximately 7 tera is committed to conducting business safely
research centre are recognised for their ability kilometres from the Jandaya-1 exploration well, and in a socially, environmentally and ethically
to develop technologies tailored to the needs of in the southern portion of the Perico block. The responsible manner.
each individual project and deliver high-quality Tui-1 exploration well was drilled to a total depth Frontera Energy, March 24 2022

P16 www. NEWSBASE .com Week 12 24•March•2022