Peru ended 2005 with three key discoveries, one in a nonproducing basin in the Pacific Ocean and two in the Maranon basin near several large undeveloped heavy oil discoveries.
Sechura basin first
The Sechura basin got its first substantial oil discovery with a well drilled by Petro-Tech Peruana SA in the southwestern extremity of Block Z-2B.
The San Pedro 1X well tested at 1,200 b/d of light oil from what is reported to be Paleozoics, which have not been widely prospective in Peru. The well, on the shelf off Paita, was projected to a TD of 7,400 ft in 250 ft of water.
Petro-Tech produces 10,000 b/d of oil and 65 MMcfd of gas from offshore fields in the Talara basin on northern Block Z-2B. The company is a subsidiary of Petro-Tech International Corp., Houston.
The Sechura basin has extensive seismic coverage but few wells (see map, OGJ, Nov. 16, 1998, p. 92, or subscribers may search “Sechura” on www.ogjonline.com).
Maranon discoveries
Meanwhile, the Energy and Mines Ministry reported that Occidental Petroleum Corp. has a light oil discovery and another operator has a heavy oil find in the western Maranon basin of north-central Peru.
Oxy’s discovery is the Situche Central 2X well on Block 64. This is about 125 miles southwest of and separated by Oxy’s former Block 1-AB from where the former Barrett Resources Corp., Denver, made three large heavy oil discoveries on Block 67 in the northernmost Maranon basin in 1998.
Barrett Resources was unable to attract a partner with heavy oil development expertise before the company was sold to Williams Cos., Tulsa, in August 2001.
The ministry said Oxy’s discovery flowed 2,400 b/d of 34° gravity oil.
Oxy, operator with 50% interest, has not confirmed the discovery, but block participant Talisman Energy Inc., Calgary, said in December 2005 it is “evaluating additional drilling in Peru to follow up on our recent oil discovery.”
Talisman and Amerada Hess Corp.’s Peruvian unit each holds 25% interest in Block 64.
Occidental discovered Peru’s largest onshore oil field complex in Block 1-AB near the border with Ecuador and began production in 1975. It sold its interest in the block in 2000 as the project neared its economic limit.
Barrett Resources identified 21 large structures on Block 67 and in 1998 made the Dorado, Pirana, and Paiche oil discoveries at three 7,000-ft exploratory wells.
Dorado cut 71 ft of pay with 14-16° gravity oil. Pirana cut 84 ft of oil pay with 12-21° gravity oil. Piache cut 179 ft of total pay, including 122 ft of oil pay, with 12-13° gravity oil and low-BTU gas.
The company estimated combined recoverable volumes at the three discoveries at 90 million to 313 million bbl of oil and said an oil price of $18/bbl was needed to achieve acceptable development economics.
The ministry also reported a heavy oil discovery on Maranon Block 39 about 9 miles south of the Barrett Resources Pirana find.
The Buena Vista 1X well tested at 2,830 b/d of 13.7° gravity oil. Repsol YPF, Madrid, operates Block 39. ✦