Repsol-YPF SA and partners have made an oil discovery in the Mediterranean Sea, 30 km off Tarragona, Spain. The news comes just after Spanish firm Repsol SA acquired the former Argentine state oil firm, YPF SA, and announced a name change and planned restructuring (OGJ, July 12, 1999, Newsletter).
The discovery lies near Repsol`s Casablanca oil field and platform, a key source of feed for Repsol`s 180,000 b/d Tarragona refinery.
Chipirón-1 was drilled to 3,590 m MD and 3,388 m TVD. It cut a net interval of 69 m in the basal Tertiary group and the lower Cretaceous. The well didn`t find water-oil contact, said a Repsol-YPF official.
On test, the well flowed 7,000 b/d of 40° gravity oil through a 1-in. choke. Repsol-YPF called the oil "excellent-quality."
"The area is under evaluation, and the possibility of additional wells has not been discarded," said the official.
Repsol-YPF plans to install a subsea wellhead that will be connected to Casablanca platform via a 10-km pipe- line.
Oil from Chipirón will also be processed in the Tarragona refinery.
The Casablanca oil field complex, which comprises Casablanca, Rodaballo, and Boquerón fields, produces 6,500 b/d.
"New production from the Chipirón field will make it possible to at least double Spanish crude oil production from the Mediterranean Sea," said Repsol-YPF.
The firm expects development of the field to take 20 months. Production is slated to begin in early 2001.
Interests in the find are: operator Repsol-YPF, 65.42%; Canadian firm CNWL Oil (España) SA, an affiliate of Sherritt International Corp., 15.58%; Cepsa Group unit Ciepsa, 15%; and LOCS, 4%.