Perla gas in place hiked to more than 16 tcf

By OGJ editors
HOUSTON, Feb. 25
-- Eni SPA and Repsol-YPF SA have hiked the estimate of gas in place at supergiant Perla gas-condensate field in the Gulf of Venezuela to more than 16 tcf from the previous estimate of more than 14 tcf.

The companies have finalized front-end engineering design for a 300 MMscfd early production phase targeted to start up in 2013 (OGJ Online, Nov. 15, 2010).

The most recent appraisal well, Perla-4, tested at 17 MMscfd of gas and 560 b/d of condensate. The well is in 60 m of water on the Cardon IV block.

Four light offshore platforms would be linked by pipeline to a central processing facility (CPF) on the Paria Peninsula. Full phase development would involve additional wells and an upgrade of the CPF to 1.2 bscfd.

Eni said, “Early assessments indicate capacity for Perla gas commercialization via the domestic market due to gas request for power generation, petrochemical, and heavy oil upgrading projects. However, further options for gas export will also be analyzed, jointly with the government, in order to extract maximum commercial value from the field.”

The block is licensed and operated by Cardon IV SA, a joint operating company owned 50-50 by Eni and Repsol-YPF. Petroleos de Venezuela SA owns a 35% back-in right to be exercised in the development phase, and at that time Eni and Repsol-YPF will each hold a 32.5% interest in the project, which will then be jointly operated by the three companies.

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