- A new exploration permit in Colombia
- Last update with the Onal launch in Gabon
- Evidence of oil on Omal-1D in Gabon
Ocelote field (100%) in Colombia
In August 2008, via Hocol, a wholly-owned subsidiary, Maurel & Prom tabled a development plan for the Ocelote field with the National Hydrocarbon Agency. The operating permit was received on December 19, 2008.
The boost to processing capacity starting in early January 2009 will result in 100%-owned oil production amounting to 10,300 b/d (up from 5,300 b/d currently), which will increase net entitled production from Maurel & Prom in Latin America to 23,900 boepd, including 1,300 boepd of gas in Colombia and 1,700 boepd in Venezuela. At the beginning of December, more than 1 million barrels had been produced from the Ocelote field.
As from late 2009, a 54 km oil pipeline will be operational between Ocelote and Las Palmeras in order to reduce operating costs while also securing transport of the large volumes produced.
DeGolyer and MacNaughton, the independent US appraisal firm, are currently valuing and certifying the reserves of this field.
Onal field (85%) in Gabon
The gas pipeline designed to supply the Onal facilities in Gabon will come on stream as from December 23, 2008. Testing and receipt of the facilities will be able to begin from this date.
In view of the Christmas holiday period and technical uncertainties, this will no doubt take longer than originally planned, which prevents the Group from issuing a firm date during January for the launch of production on the Onal field.
All commercial and oil and gas transport agreements have been signed.
Evacuation of production from the Onal field will initially be limited to 10,000 b/d for a 3 month period.
Following the July 2008 discovery, miscibility tests carried out on the oil produced by the Omko-1 well with that produced by Onal and Total are positive.
Laying of the oil pipeline between the Omko field and the Onal production centre will be completed by the end of January. The Group has been granted a long-term testing permit for the Omko-1 well, for which production will be subject to a firm agreement on the evacuation of oil produced with Total.
An application for an Exclusive Operating Permit will be filed once two Omko field appraisal wells have been drilled, drillings which are scheduled to take place during the first quarter of 2009.
Sicily
Given that the Eureka well did not discover any faults that would enable commercial gas production, it was plugged and abandoned.
Colombia
Maurel & Prom, through its wholly owned subsidiary Hocol S.A., has signed with the National Hydrocarbon Agency of Colombia (ANH) a new Exploration and Production Contract (VSM-10). The total awarded area covers 433 km² (See the map). Block VSM 10 is located in the Upper Magdalena Basin in the Tolima Department. The royalties will be 14%. This block will be operated by HOCOL S.A. on a 100% basis. Over the next 36 months HOCOL S.A. is committed to acquire 87 km of 2D seismic, 250 km² of 3D seismic and drill one exploration well.