Page 14 - LatAmOil 32

LatAmOil
NEWS IN BRIEF
LatAmOil
The addendum signed today refers to the com- mitment profile for deliveries by YPFB of the gas volumes contracted by Petrobras, as a function of YPFB’s current availability and the contracts assumed by it with other gas market agents, as widely disclosed.
The addendum provides for the maintenance of the maximum contracted volume of 20 mcm per day, with flexible delivery and receipt accord- ing to seasonality and supply availability, thus ensuring a supply in contractual balance for the companies. In addition, it brings more security and predictability of gas supply to the market served by Petrobras.
Petrobras, August 5 2022
PROJECTS & COMPANIES
Touchstone announces
completion of EIA for
Cascadura project
Touchstone Exploration Inc. announces that the Trinidad and Tobago Environmental Manage- ment Authority (EMA) has confirmed that no further information is required regarding the Cascadura Environmental Impact Assessment (EIA).TheCascaduraEIAsupportstheCompa- ny’s application for a Certificate of Environmen- tal Clearance (CEC) to conduct development operations within the Cascadura area of the Ortoire block.
The EMA confirmed that the following des- ignated activities of the CEC have been deemed applicable to the proposed Cascadura project: exploration for crude oil and natural gas; estab- lishment of a facility for primary or secondary production of crude oil, condensate or associ- ated gas; establishment of a facility for natural gas or condensate production; establishment of infrastructure for pipeline systems; and estab- lishment of infrastructure for storage of petro- leum or liquid petroleum gas or their derivatives. These represent all of the necessary activities for commercial production at Cascadura pursuant to Touchstone’s application.
Touchstone submitted the remaining EIA documentation on August 3, 2022, and the EMA responded on August 5, 2022, stating that the submitted information was reviewed and was deemed to be adequate to determine the out- come of the Company’s CEC application. Pursu- ant to statutory CEC rules, the EMA confirmed that a final CEC determination will be made by September 15, 2022.
Touchstone has an 80% operating work- ing interest in the Ortoire block, with Herit- age Petroleum Company Limited holding the remaining 20% working interest.
Paul Baay, President and CEO, commented: “We are excited that the EMA has accepted our EIA documentation and will process our CEC application in the near future. I would like to thank our team for their perseverance and dili- gence in submitting a complete response thereby ensuring no further delays. We look forward to updating our stakeholders in due course.”
Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company’s common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange underthesymbolTXP.
Touchstone Exploration, August 8 2022
Ecopetrol: Drilling of
Gorgon-2 well confirms
extension of gas province
in Colombian Caribbean
Ecopetrol announces that the Gorgon-2 well proved the presence of gas in ultra-deep waters in the southern Colombian Caribbean, confirm- ing the importance of this province for gas explo- ration in this area of the country.
The well is located 70 km off the coast and is the deepest well drilled in Colombian waters to the seabed (approximately 2,400 metres).
The drilling of the well, located in the Col-5 block, confirms the extension of the gas dis- covery made in 2017 in Gorgon-1. The Kronos (2015) and Purple Angel (2017) discoveries were also made in this gas province.
Ecopetrol and Shell (operator) are partners in the South Caribbean blocks (Col-5, Fuerte Sur, and Purple Angel), with 50% participation each.
The development of this gas province in the southern Caribbean could significantly contrib- ute to supporting the country’s energy security and opens the possibility of future gas exports, a fundamental energy source for the energy
transition that Ecopetrol has been developing. Ecopetrol is the largest company in Colombia and one of the main integrated energy compa- nies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon produc- tion of most transportation, logistics, and hydro- carbon refining systems, and it holds leading positions in the petrochemicals and gas distribu- tion segments. With the acquisition of 51.4% of ISA’s shares, the company participates in energy transmission, the management of real-time sys- tems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Per- mian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the tele- communications sector. This press release con- tains business prospect statements, operating and financial result estimates, and statements
related to Ecopetrol’s growth prospects.
Ecopetrol, August 10 2022
Canacol Energy reports
on July gas sales, tests
Cornamusa 1 discovery
Canacol Energy is pleased to provide the follow- ing information concerning its July 2022 natural gas sales and the test results of the Cornamusa 1 exploration well, along with near term drilling plans.
Gas sales averaged 197 mcf per day. Realised contractual natural gas sales (which are gas pro- duced, delivered, and paid for) were 197 mcf per day for July 2022.
Cornamusa 1 exploration well tests 12.4 mcf per day: As announced in June 2022, the Corpo- ration completed the drilling of the Cornamusa 1 exploration well located on the VIM-21 Block operated by Canacol Energy Colombia SAS with 100% working interest. The well encoun- tered multiple gas filled sandstones between 6,010 and 7,514 feet true vertical depth within the primary Cienaga de Oro (CDO) sandstone reservoir target with average porosity of 21%. Following completion, the well was tied into the production facilities and tested. Following an initial clean up period, the well was flow tested for 29 hours at an average rate of 6.7 mcf per day. The final test rate was 12.4 mcf per day with a THP of 2,244 psia and a choke of 27/64 in. The well was shut in for a build-up period of five days, after which the well will be put on permanent production.
P14
w w w . N E W S B A S E . c o m
Week 32 10•August•2022