The Margarita 7 well, located in the municipality of Macharetí chuquisaqueño, will incorporate more than 3 million cubic meters of gas (3 mm3d) shared production Margarita Huacaya field through the reservoir Huamampampa H1b and two new ones are being tested.
The company Repsol began its exploratory work a year and a half ago in Margarita 7, with the aim of developing the H1b reservoir, which is shared between Tarija and Chuquisaca, but the process also discovered two new reservoirs, the Icla and Huamampampa H3 located between 5,100 and 5856 meters deep; both are in the testing phase of production.
Repsol said in a statement that the discovery also marks the beginning of Phase III of the development of the Margarita-Huacaya fields with an investment of 293 million dollars, together with its partner British Gas (BG) and Anglo Argentina Pan American Energy (PAE).
According to a report of the company, the completion of the drilling Margarita 7, which reached 6,000 meters depth, represents a “significant exploration success” because it allowed discovering a new gas reserves in the geological formation Huamampampa.
In the new reservoir Icla test gas production runs, work will be replicated in the Huamampampa H3 in the coming weeks.
The Margarita 7 start production in September, the company announced yesterday Repsol.
Asked if this new well will improve participation in Chuquisaca the income from the exploitation of shared Margarita Huacaya Field, Deputy Minister of Oil and Exploration, Eduardo Alarcon, said that until all production tests are not made reservoirs is very premature to talk about the connectivity of the well.
The ceremonial inauguration of the well Margarita in July was led by President Evo Morales and other government authorities. “It is a great joy that nine years of nationalization (Hydrocarbons) we report on the incorporation of 3 million cubic meters per day for the domestic market and the international market, which will allow economic growth,” he stressed.
For his part the president of Repsol, Antonio Brufao, said that the company is delivering 18 MMmcd for Oilfield Fiscales Bolivianos (YPFB) to allocate the internal and external markets, seven months ahead of provided.
The Margarita and Huacaya fields make the area of the block Caipipendi contract, managed by Repsol, which owns 37.5% of the concession, as British Gas (BG), while the Anglo-Argentine Pan American Energy (PAE) has 25%.
Repsol commitments in coming years
Bolivia produces 60 million cubic meters per day, of which about 32 million sent to Brazil and 16 million to the Argentine market.
piercing Margarita 7 should reach 5,000 meters deep but the companies decided to follow up last March to find the new site, after seven months of work.
When you are ready to go into production, the development of the well will be required an investment of 113 million dollars.
The first two phases of development of the Margarita-Huacaya fields required an investment of 1,250 million, which allowed in the period 2010-2014 “multiply eight times the production of these fields,” the company said.
The Caipipendi block where the Margarita and Huacaya fields are, have as Repsol partners with 37.5% of the shares, with a similar percentage BG and SAP, with 25%.
The new Repsol investment commitments involve drilling the beginning of this year of two new wells ., the improvement of facilities in the area and the expansion of the gas processing capacity in Margarita, among other works
Source: PAT, Correo del Sur
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