Devon to accelerate Polvo field development

Devon Energy Corp., Oklahoma City, and SK Corp. of South Korea plan to accelerate develop of Polvo oil field on Block BM-C-8 in the Campos basin off Brazil.

June 7, 2006

Peter Howard Wertheim
OGJ Correspondent

RIO DE JANEIRO, June 7 -- Devon Energy Corp., Oklahoma City, and SK Corp. of South Korea plan to accelerate development of Polvo oil field on Block BM-C-8 in the Campos basin off Brazil. Production from the shallow-water field, discovered in June 2004, is expected to begin in July 2007 and reach 40,000 b/d of oil.

Devon, the operator, will use a refurbished 3,000 hp platform rig to drill 10 producing wells and three injectors in the first development phase in early 2007.

It will install a 24-slot fixed platform in 345 ft of water with production capacity of 50,000 b/d.

The platform jacket topsides will have three multiphase pumps to move produced fluids without separation to a floating production, storage, and offloading (FPSO) vessel.

Prosafe of Norway will supply the FPSO, which will be designed to handle 90,000 b/d of production and store 1.5 million bbl.