Petróleo Brasileiro SA (Petrobras) has declared a new gas discovery in the same license as the Sirius discovery.
The Copoazu-1 well in Block GUA-OFF-0 “consolidates the gas province and the gas potential in the Colombian offshore, while also adds a greater volume of gas to contribute to the region’s energy security”, the Brazilian state-owned energy company said in an online statement.
“The gas-bearing intervals were identified through electric logs and fluid sampling, confirming the presence of gas in an additional objective beyond the main objective, making the discovery even more significant”, Petrobras said, without providing resource estimates. “The gas-bearing intervals will be further characterized by laboratory analyses.
“Petrobras’ activities in Block GUA-OFF-0 are aligned with the company’s long-term strategy, aiming to replenish oil and gas reserves through exploration of new frontiers and partnerships with other companies, ensuring the supply of global energy demand during the energy transition”.
It operates the block with a 44.44 percent stake. Colombian counterpart Ecopetrol SA owns 55.56 percent.
Copoazu-1 is 36 kilometers from shore in waters 964 meters (3,162.73 feet) deep, according to Petrobras. The new discovery sits about eight kilometers (4.97 miles) from the Sirius discovery.
Sirius, Colombia’s biggest gas discovery, has been appraised to have over 6 trillion cubic feet of gas, according to Petrobras.
“This discovery may increase Colombia’s current reserves by 200 percent”, Petrobras said in a press release December 5, 2024, announcing the result of the Sirius-2 appraisal well.
“The consortium is expected to invest $1.2 billion in the exploratory phase and another $2.9 billion in the production development phase”, Petrobras added.
“Natural gas production is projected to start within three years of securing all environmental licenses, aiming for a 2027 launch if the discovery proves commercially viable”, Petrobras said then. “Through four producing wells in an innovative design ‘subsea to shore,’ the expected production is roughly 13 million cubic meters/day for 10 years”.
Separately, Petrobras this week also announced it is exercising its preemptive right to acquire 50 percent stakes in the Tartaruga Verde and Espadarte-Module III fields in Brazil’s Campos basin from partner Petroliam Nasional Bhd (Petronas). The $450 million acquisition would result in Petrobras becoming the sole owner.
The fields are in the southern part of the basin in waters 700-1,620 meters deep. Current production from the assets, through the Cidade de Campos dos Goytacazes floating production, storage and offloading vessel, averages 55,0000 barrels of oil per day, according to Petrobras.
The takeover “adds decision-making flexibility to the company’s portfolio management”, Petrobras said.
To contact the author, email jov.onsat@rigzone.com
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