Atlanta and Oliva Fields

Block BS-4

QGEP acquired an interest in Block BS-4 in the second half of 2011, and was the Company’s second farm-in agreement following its IPO in February, 2011. The Company acquired a 30% of participating interest in the Block, as well as the status of operator, for a total of US$157.5 million. Located in Santos Basin, 185 km from the Brazilian coast, this block consists of the Atlanta and Oliva Fields, formed by the accumulation of 14º and 16º API heavy oil respectively, in the post-salt turbidite arenite, containing a total volume of oil in place estimated at .  

In February, 2012, QGEP obtained approval from the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) to operate Block BS-4. The development plans for both fields were presented to the ANP in December, 2011. During 2012, the Company initiated the required surveys for the acquisition and contracting of equipment and services. The Company also acquired seismic data for the area, allowing for better imaging of the pre-salt and post-salt reservoirs. This new data can help in the identification of potential new discoveries in this block’s post-salt area. 

In January, 2013, the Company announced that the ANP had approved the Development Plan (DP)  for the Atlanta Field. The DP for Oliva Field was approved by the ANP in August, 2013.

Atlanta Field

The Development Plan for the Atlanta Field as approved by the ANP consists of an Early Production System (EPS) for a three-year period, followed by a Full Development (FD) System. The EPS includes up to three production wells connected to a Floating Production, Storage and Offloading Unit FPSO with production capacity of up to (kbopd), while the FD includes the drilling of additional wells, encompassing a total of 12 horizontal wells connected to an FPSO with capacity. The development area covers .

In the first half of 2014, the drilling and testing of the two horizontal wells for the Atlanta’s EPS was succesfully completed, drilled at a horizontal section of in length and in diameter. The reservoir is characterized by arenites with 38% medium porosity. The horizontal section of both wells was lined with screens and packed with gravel, optimizing the oil productivity by preventing the sand from the reservoir from moving into the well or into the production equipment. Tests carried out at these two wells were positive, indicating average expected flow at the high end of the range of  to that the Company had estimated.

In December 2014, QGEP announced the contracting of the Petrojarl I Floating, Production, Storage and Offloading vessel (FPSO) for the Field's EPS. First oil at Atlanta is expected in the end of 2017, with initial estimated production of , based on the two production wells that have already been drilled and equipped with wet Christmas trees and electrical submersible pumps. The Consortium may decide to drill a third production well to increase average production capacity to 

Also in 2014, QGEP released the main results of the Reserves Certification Report of the Atlanta Field, developed by the independent contractors of Gaffney, Cline & Associates (GCA). The major highlights are 1P reserves of , 2P reserves of , and 3P reserves of . These estimates were made based on drilling and test results from the first production well drilled on the Field. 

Due to the technological innovations contemplated in the Atlanta’s EPS, QGEP obtained a FINEP funding of R$ 266 million associated to the Field.

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Oliva Field

The Oliva Field, also located on Block BS-4 at from the Atlanta Field, includes in its Development Plan the drilling of a Reservoir Data Acquisition Well. A subsequent test will be carried out in order to verify the reserve estimates and to support the production curve. Also included in the plan is the drilling of five producing wells and three injection wells, all of which are horizontal, which will be linked to the facilities at the Atlanta Field. First oil from Oliva is expected in 2021. 

 

Last updated on 2017-01-24T17:45:55

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