Venezuela
Repsol YPF SA of Madrid and partners will drill four more wells through 2002 to appraise and develop an apparent large find in Tacata field.
The TAG-14 well, drilled to TD 16,000 ft, tested a combined 21,000 b/d from four intervals.
Tacata field in Anzoategui state is on the Quiamare-La Ceiba block awarded the consortium by PDVSA. Repsol YPF is operator with 50% interest in that holding. Its partners include ExxonMobil Corp., Irving, Tex., and Tecpetrol de Venezuela SA with 25% each. The group hopes to double block production to 28,000 b/d of oil equivalent by 2004.
Repsol YPF is working in five blocks in Venezuela, including three others, Quiriquire, Mene Grande, and Guarapiche. It operates Guarapiche. The company's net production from those blocks totals 31,000 b/d of oil equivalent. But it expects to increase that production gradually to 70,000 b/d with development of Quiamare-La Ceiba and Mene Grande fields and implementation of a recently signed gas contract in Quiriquire.