Page 18 - LatAmOil Week 37
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LatAmOil                                     NEWS IN BRIEF                                          LatAmOil








       UPSTREAM

       Argentina: President

       Energy announces
       operational update


       AIM-listed President Energy, the energy com-
       pany with a diverse portfolio of production and
       exploration assets focused primarily in Argen-
       tina has provided an operational update in rela-
       tion to its current Rio Negro operations in the
       Estancia Vieja and Puesto Flores fields.
         Workover Programme: The operational test-
       ing of EVx-1 has now concluded. The flow rates
       and pressure build up support the initial testing
       results and that this has proved to be excellent
       value for the $250,000 expended in working
       over an old, uneconomic well. The well tested
       on various choke sizes from 4 mm to 12 mm
       for 12 hours each with similar pressure build up   Drilling programme: The drilling rig is now  Petrobras (65%), in partnership with Shell Brasil
       tests at 12-hour intervals. Throughout, the well  expected to start mobilising during the course of  Petróleo (25%) and Petrogal Brasil (10%).
       maintained good pressure with production rates  this week for drilling operations to commence   Tupi began production in its first definitive
       ranging from 25,000 cubic metres per day up to  on schedule before the end of September.  system in 2010, with the operation of Cidade
       150,000 cubic metres per day of gas with a small   As previously announced, the first well will  de Angra dos Reis system, and is currently the
       amount of condensate. For good reservoir man-  be the Las Bases 1001 development well target-  largest oil and gas producing field in the country.
       agement, subject to the definitive data results, it  ing attic gas in the Las Bases structure, a P50   Petrobras, September 14 2020
       is expected that the well will be put on stream  well rate of 100,000 cubic metres per day (588
       initially producing approximately 80,000 cubic  boepd) of gas and 6 bcf of recoverable gas with a
       metres per day of gas (around 470 boepd). The  target depth of 1,700 metres and a high chance  SERVICES
       data obtained from the testing is now being ana-  of success.
       lysed to determine the producible volume of the   Estimated costs to completion are $1.9mn   Petrobras in negotiations
       reservoir and its characteristics.  with drilling time, excluding completion and
         The Company looks forward to seeing the  tie-in, of approximately 21 days. As the well is in   to contract sixth FPSO
       contribution in production from this well from  close proximity to existing infrastructure, on a
       October.                            success case the well should be in production at   for Búzios field
         The order in respect of the second well in the  some stage during November.
       workover sequence was changed due to logistics.   President Energy, September 15 2020  Petrobras informs that it has started negotiations
       This well, the old PFO-33, has been turned into a                        with SBM Offshore (SBM) to contract the FPSO
       water disposal well replacing a previous disposal   Petrobras comments on   (floating production, storage and off-loading)
       well PFO-17 which ceased to be operable some                             vessel Almirante Tamandaré, to be installed in
       three months ago. PFO-33 is now capable of   name change for Tupi field  the Búzios field, in Santos Basin.
       disposing of 400 cubic metres per day of water                             The FPSO Almirante Tamandaré will be the
       thereby saving on third-party costs which have  Petrobras hereby announces that the National  sixth production system of the Búzios field, with
       been incurred since the previous well ceased  Agency of Petroleum, Natural Gas and Biofuels  startup schedule for the second half of 2024. It
       to inject. The workover of this well has been  (ANP) approved the change in the name of the  will be the largest oil production unit operating
       completed ahead of time and like EVx-1, under  Lula field to Tupi field.  on the Brazilian coast and one of the largest in
       budget.                                The approval is aimed at complying with the  the world, with processing capacity of 225,000
         After completing the workover of PFO-33,  ruling of July 7, 2020, in a citizen lawsuit, which  barrels per day (bpd) of oil and 12mn cubic
       the rig then moved on to the oil producer PFE-  ordered the annulment of the designation of the  metres per day of gas.
       1001 to replace an electric submersible pump  Tupi area as Lula field, which occurred in 2010.  The hiring of SBM will occur directly, in
       which had failed approximately two months   The other areas that make up the Tupi field  accordance with the law 13.303/16. Petrobras
       ago and then put the well back on production.  have also had their names altered, as follows:  constantly monitors the FPSOs world market
       That operation is now nearly completed and has  a) Sul de Tupi (South Tupi), an onerous assign-  and has identified that at this moment, only
       gone according to plan. The well should be back  ment contract and; b) Tupi Leste (East Tupi), a  SBM has the capacity to meet the technical,
       online in the next seven to 10 days.  non-contracted area that belongs to the federal  operational and availability requirements of the
         The rig will then move on to the next wells in  government, represented by Pré-Sal Petróleo  company.
       the sequence which will include the well EV-20  (PPSA).                    The other two units to be installed in Búzios,
       referred to in the Company’s announcement of   The Tupi field is located predominantly in  FPSOs P-78 and P-79, will be contracted by bid-
       July 13, 2020. Further details of progress on the  the BM-S-11 concession, 230 km off the coast  ding, in the Engineering, Procurement and Con-
       programme will be announced at relevant times.  of the state of Rio de Janeiro, and is operated by  struction (EPC) modality.



       P18                                      www. NEWSBASE .com                      Week 37   17•September•2020
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