Corvina well tests new gas pay off Peru

BPZ Energy Inc., Houston, tested the second of three wells mandated by International Finance Corp. in connection with the pending financing for BPZ's Corvina gas-to-power project in Peru.

Jun 18th, 2007

By OGJ editors
HOUSTON, June 18 -- BPZ Energy Inc., Houston, tested the second of three wells mandated by International Finance Corp. in connection with the pending financing for BPZ's Corvina gas-to-power project in Peru.

The 1982 Corvina CX11-16X well was reworked and completed as a gas producer with most of the production coming from the Miocene Upper Zorritos formation. The well also tested 500 Mcfd of high quality gas from the Cardalitos formation, a Miocene formation that overlies the Zorritos. It is the Tumbes basin's first hydrocarbon test from the Cardalitos, BPZ said.

The gas zone at the top of the Upper Zorritos tested up to 19.4 MMcfd on a 1-in. choke with 665 psia average wellhead pressure. The test used 2-7/8-in. tubing, compared with 3-1/2-in. tubing used to test the same zone in the 21XD well that flowed 40 MMcfd. The 16X well also has formation damage, which may be treated later.

Two other drillstem tests targeting oil sands and tested formation water, likely because the 1982 well's location was not optimized to appraise them.

The company will site the next well, CX11-14D, between 21XD and 16X to further delineate the discovered oil pool in Corvina field (OGJ Online, Mar. 9, 2007).

BPZ tested the Cardalitos without the aid of a full log suite. An injectivity test confirmed the permeability of the Cardalitos formation sands.

Zorritos and Cardalitos gas gravity measured 0.58-0.67, compared with 0.56 in 1982 and 1994. The 16X gravity is consistent with that obtained during the 21XD gas tests. The company commissioned lab tests of gas composition and condensate yield and a reserves evaluation.

The pressure tests show that the Zorritos is still at original conditions, BPZ said.

Meanwhile, the company leased with the option to purchase two barges, one to store produced oil next to the CX11 platform and the other to transport it 80 miles south to the Talara refinery.

A 2D seismic survey has begun at onshore Block XIX in the Tumbes basin. Acquisition is to take 2 months.

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