Peru: Corvina commercial oil output starts

Corvina oil and gas field on Block Z-1 in the Pacific off northern Peru averaged 4,656 b/d of oil in December 2010 after starting commercial production Nov. 30, said operator BPZ Resources Inc., Houston.

By OGJ editors
HOUSTON, Jan. 19
– Corvina oil and gas field on Block Z-1 in the Pacific off northern Peru averaged 4,656 b/d of oil in December 2010 after starting commercial production Nov. 30, said operator BPZ Resources Inc., Houston.

Associated gas is being reinjected to avoid flaring. The field is in the Tumbes basin.

The company has mapped 16 geologic structures on the 739,205-acre block and is seeking a permit to shoot 3D seismic on the exploratory portion of the block. It expects to start acquisition in mid-2011. Water depth averages 200 ft and reaches 500-1,000 ft on 10% of the block.

Meanwhile, BPZ is committed to install gas reinjection equipment at Albacora field, 16 miles north of Corvina, in order to bring it into commercial production by the end of 2011. The company has said it believes Albacora could contain three times the oil in place of Corvina.

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