It shouldn’t be too much of a surprise to learn that the deepwater Campos and Santos basin discoveries by Petrobras represent 30% of the worldwide discoveries in the past five years. Further, the company expects to double its proved reserves by 2020. According to Petrobras, the company will have to double its fleet of contracted rigs and continue building rigs with the capacity to operate in the pre-salt region, which is expected to produce more than 2 million barrels per day in 2020. Petrobras plans to drill 67 exploratory wells between mid-2011 and 2015 in the Campos Basin alone.

An upcoming project (Varredura) seeks additional recoverable volumes from the post-salt Marimba, Marin, Suland and Pampo projects to produce more than 20,000 barrels per day. From 2007 to 2012 Petrobras will double its fleet of contracted drilling rigs, focusing on new rigs with the operational capacity for the pre-salt layer.

Petrobras plans to have three 150,000-barrels-of-oilper-day floating production, storage and offloading vessels ready by 2015. On the downstream side, it will spend about $71 billion to build onshore refineries and oil-export infrastructure and to modernize and improve current equipment.

—Larry Prado

Argentina

Repsol-YPF of Madrid has reported two shale-gas discoveries in the Neuquen Province’s Loma de la Lata Block in central Argentina. According to a Neuquen Province government official, an exploration well drilled in Vaca Muerta between 2,775-2,966 meters could produce about 425 bbl. of oil and around 1.3 million cu. ft. of gas per day.

A discovery from Vaca Muerta in the same block was reported at 2,724-2,850 meters and produced 267 bbl. of oil and 265,000 cu. ft. per day. Repsol-YPF is the operator of the Loma de la Lata Block and the discovery wells with 70% interest, in partnership with the regional company Gas y Petroleo de Neuquen (G&P), holding 15%, and Rovella Energia, with the remaining 15%.

Ecuador

New seismic data from Ecuador’s offshore Amistad gas field, according to Petroecuador, indicates a probable gas reserve of up to 360 billion cu. ft. The Quito-based national oil company reported the finding from the Amistad Norte and Amistad Sureoeste areas of Block 3. The block was formerly operated by Noble Energy Inc. and was nationalized by the Ecuadorian government in 2010 when Noble refused to alter its production-sharing contract to a service agreement. The seismic data was acquired and processed by local geophysical company Ilvetecnica, and then analyzed by a Russian institute. According to Petroecuador, two major gas and oil prospects were located in Amistad Norte, while two smaller prospects were found in Amistad Suroeste; exploration wells will be required to confirm the reserves. Currently, Block 3 produces approximately 35 million cu. ft. of gas per day.

Colombia

Three stratigraphic wells were completed in the CPO-17 license in Colombia by the Bogota-based Ecopetrol S.A. subsidiary and operator, Hocol Petroleum. The reservoir target of both stratigraphic wells was the Basal sandstones of the Oligocene Carbonera. The #5a EST was drilled to 848 meters and showed oil-impregnated sandstones from 813 to 826 meters. During the operation, a total of 63 meters of core were obtained and petrophysical analysis indicated 11 meters of net oil sandstones with 27% average porosity. The #6-Est was drilled to 804 meters and showed several oil- impregnated sandstone sections for a total of 6.7 meters of net oil sands, according to a petrophysical analysis. The #6-Est is on the eastern flank of the Merlin prospect channel and confirmed lateral oil saturation with good results. Additional stratigraphic wells and an exploration well, #1-Merlin, will be drilled before the end of 2011.

Trinidad

Range Resources Corp. has begun drilling operations with three rigs for its 21-well offshore Trinidad development program. According to Fort Worth-based Range Resources, the program should increase oil production to between 1,400 and 1,800 bbl. per day by increasing and reclassifying reserves and extending the limits of the existing fields. Production acreage and operating wells cover Morne Diablo, Beach Marcelle, and South Quarry fields. The total acreage covers 16,253 gross acres on the southern coast. According to Oil and Gas International, current production from the fields is 700 bbl. per day and according to Range, a minimal work program could lift production to more than 3,500 bbl. of oil per day within 36 months on the known reserves.

Ghana

Eni of Rome reported that the Offshore Ghana exploration well, #1-Gye Nyame, in the Offshore Cape Three Points Block, is a gas and condensate discovery. The well was drilled in 519 meters of water to 3,349 meters and encountered significant gas and condensate sands with excellent reservoir characteristics. According to the company, oil mineralization was also discovered in the underlying sands. A delineation program is planned, and the discovery is 16 kilometers east of the Sankofa gas discovery. Eni is operator of the OCTP license with a 47.22% interest and project partners are Vitol (37.78%) and state company GNPC (15%).

Norway

A significant oil discovery was reported by Statoil in the Norwegian North Sea. The exploration/ appraisal well, #16/2-8, is on the Aldous Major South prospect in PL265. According to Statoil, it identified an approximate 65-meter oil column in Jurassic sandstone, and the acquired data confirms a reservoir of excellent quality oil. Preliminary volumes are estimated to be between 200 and 400 million bbl. of oil equivalent for this part of the structure in PL265. Results from #16/2-8 indicate the same oil-water contact as in the nearby Avaldsnes discovery well and suggests communication between the two structures. The well was drilled to 2,083 meters in 112 meters of water and is about four kilometers west of the Avaldsnes discovery well. Two appraisal wells in PL 265 are planned for 2012. Stavanger-based Statoil is the operator of PL265, Block 16/2, and the Aldous Major South discovery well with 40% interest in partnership with Petoro, holding 30%, Det Norske Oljeselskap, with 20%, and Lundin, with the remaining 10%.

Cyprus

An exploration well is planned in offshore Cyprus territorial waters in the Block 12 concession in the Eastern Mediterranean by Houston-based Noble Energy Inc. A semisubmersible rig is expected to be on site in third-quarter 2011. According to Noble, the probability of a large gas find in the 800,000-acre Cyprus acreage has been significantly increased by discovery of the Tamar and Dalit gas fields to the east in Israeli waters. Block 12 is operated by Noble with 100% interest. Delek Energy Systems, one of Noble’s partners in its Israeli concessions, holds an option to acquire 30% interest in Block 12.

Thailand

An exploration well by Coastal Energy Co. at #01H-Songkhla, offshore Thailand, hit 32 ft. of net pay with 20% porosity during an initial production testing on the Bua Ban North #06-B and #08-B wells. The completion was drilled to 9,256 ft. true vertical. During a drillstem test the well produced 1,000 bbl. of 29-degree-gravity oil per day with minimal initial pressure drawdown in the reservoir. The #06-B and #08-B wells have been completed using electric submersible pumps and are each producing approximately 2,000 bbl. per day from the Miocene interval. Flow rates will be restricted to these levels to minimize formation drawdown. Houston-based Coastal Energy is currently completing #01-B in the Oligocene and has the potential to produce more than 3,000 bbl. per day using an electric submersible pump. Coastal is operator of Block G5/43 and the Songkhla and Bua Ban fields, with 100% interest.

Indonesia

Rome-based Eni encountered gas at #1-Jangkrik North East in Muara Bakau Block, in the Kutei Basin east of Kalimantan, offshore Indonesia. The Jangkrik NE structure is 15 kilometers from Jangkrik Field. The well was drilled to 3,633 meters in a water depth of 460 meters of water and hit a reservoir with more than 60 meters of net gas pay in excellent quality Pliocene and Miocene reservoir sands. During a production test, the well produced high-quality gas at a tubing-constrained rate of 30.6 million cu. ft. per day. Eni, through its Indonesian subsidiary, is operator of the Muara Bakau PSC with a 55% interest, with partner GDF Suez.

Australia

Beach Energy Ltd. of Adelaide reported two new Cooper Basin Western Flank discoveries in South Australia. The #1-Rincon is in the PEL 92 permit and hit a 5-meter gross oil column with 4.5 meters of net pay in the McKinlay/Namur sandstone section of the well. The preliminary volumetric assessment indicates up to 500,000 bbl. of recoverable oil (gross).

Beach Energy is operator of #1-Rincon with 75% interest, with Cooper Energy, holding the remaining 25%. The #1-Bauer encountered a gross oil column of 15 meters, with 13 meters of net pay in the McKinlay/Namur sandstone section of the well. The preliminary volumetric assessment indicates the potential of the discovery could be approximately two million bbl. of recoverable oil (gross). Beach has a 40% interest in a partnership with Drill-search Energy (60%). The #1-Rincon is the final well in its initial 11-well program in the PEL92 permit, and #1-Bauer is the third well in a five-well exploration program in the PEL91 permit.