France's E&D spending seen to triple from low point

Oct. 27, 2003
France's E&D spending seen to triple from low point Exploration and development investment should improve markedly this year in France after sliding to a low point in 2002.

Exploration and development investment should improve markedly this year in France after sliding to a low point in 2002.

Expected outlays are 14.2 million euros, up from 4.37 million euros in 2002. Spending is to rise to 6.37 million euros from 1.47 million euros in the Paris basin and offshore Western Approaches and to 5.19 million euros from 440,000 euros in the Aquitaine basin.

Production spending is to rise to 51.4 million euros this year, almost evenly split between Aquitaine and Paris basin fields. Production spending fell 43% to 29.9 million euros in 2002, when only four wells were drilled compared with 24 in 2001, all in the Paris basin. France's offshore areas are thought to have more promising exploration prospects than its land areas, but the offshore basins have been disappointing lately.

No new discoveries have been added onshore, but development wells and workovers have slowed the country's oil production decline. France averaged 26,000 b/d from 59 fields in 2002, down 5% from 2001 (OGJ, Dec. 23, 2002, p. 127). The 2002 split was 55% from the Paris basin and 45% from the Aquitaine basin.

Offshore sluggish

Vermilion Rep was to spend 5 million euros to acquire seismic data on the Aquitaine Maritime permit in the Bay of Biscay after assuming operations from Esso Rep. This block is considered the country's most promising at the moment.

Hunt Oil Co. asked for a permit in the Bay of Biscay on the Parentis Maritime block, larger than Aquitaine Maritime.

TGS-Nopec Geophysical Co. ran seismic on its Rhône Maritime permit in the Mediterranean Gulf of Lions and sought a partner or buyer of the not very promising deepsea images. Canadian Natural Resources Ltd. drilled a dry hole on its Finistère Atlantique permit in the Western Approaches.

Onshore focus

Champotran field, operated by Vermilion Rep in the Paris basin, has been the bright spot lately with a 36% production boost due to field extension to around 1,300 b/d in 2002 compared with 2001.

Also noteworthy are Villeperdue field, operated by Lundin, where production is being maintained beyond the high level of 2,140 b/d, and Parentis, operated by Vermilion Rep, where production is still above 2,900 b/d after 45 years on stream.

Parentis, Chaunoy, Villeperdue, and Itteville fields accounted for 40% of national production. Another 40% comes from a large number of smaller fields that produce less than 300 b/d each.

Gas production, 94.4% from Lacq field in the Aquitaine basin, is continuing its decline. In 2002, production was down 2.7% to 250 MMcfd.