Exclusives

More exploration drilling, appraisal work and seismic acquisition are ahead for the Stabroek Block as the company looks to start activity in Block 59 offshore Suriname.

The Pluma-1 well, which was drilled by the Noble Tom Madden drillship, hit about 37 m (121 ft) of high-quality hydrocarbon-bearing sandstone reservoir.

Peregrino, Brazil, offshore, Equinor, presalt, Tim Dodson

Hart Energy spoke to Tim Dodson, executive vice president of exploration for Equinor, during the recent ONS2018 conference about the growing importance of Brazil to the company’s exploration portfolio.

The program aims to reduce capex and opex for production offshore in areas such as subsea systems, surface systems, processing and construction, starting with 39 R&D projects.

An RCP/Wintershall venture examines usefulness of multicomponent data.

Drilling

A decision by Petrobras (NYSE: PBR) not to invest in drilling new wells has derailed Chevron Corp.’s (NYSE: CVX) plan to resume exploration in a Brazilian offshore field, people familiar with the matter said on Oct. 30.

Frontera Energy Corporation on Aug. 17 announced positive drilling results from the Acorazado-1 well located on the 100% owned and operated Llanos 25 block onshore Colombia. As a result, the well is being cased in preparation for testing.

Echo Energy Plc said July 9 it has successfully completed the drilling of the CSo-2001(d) well in which a notable gas column has been interpreted from the wireline logging suite.

The projects, known as Liza Phase 1, include the conversion of an oil tanker into a FPSO vessel, which would have a production capacity of 120,000 bbl/d of oil.

The French oil major wants to explore Brazil’s Foz do Amazonas Basin, but Brazil's environmental agency rejected its license application on May 29 for a fourth time.

Enhanced Oil Recovery

Field Development

President Energy said Nov. 28 it has completed the acquisition of its interests in the Las Bases and Puesto Prado Concessions, Rio Negro Province, Argentina (President operator and 90%, EDHIPSA 10%).

Argentina is due to begin exports of LNG from a part of its vast Vaca Muerta shale gas resource next year through FLNG vessel provided by Exmar.

The FPSO, located in the Buzios 2 oil field, will be able to produce up to 150,000 barrels per day of oil and six million cubic meters of natural gas, the company’s statement said.

Petrobras said it had started production on its eighth platform in the offshore Lula Field, as it ramps up output from Brazil's Santos Basin in the coveted pre-salt oil play.

The company also said it expects to generate substantial free cash flow in 2018, allowing it to initiate a dividend in the first-quarter of 2019.