Seismic Acquisition Under Way over Block 114 in Peruvian Jungle
Pan Andean Resources announced that the work programs on Peruvian Blocks 114 and 131 are advancing well. As established contractually, Pan Andean's 30% interest in both blocks, for the contracted work program, is carried 100% through the drilling, testing & completion of the first exploration well and through 50% of the second well.
Block 114
Canadian contractor SAE has been selected to acquire 200km of seismic in the priority northern section of Block 114 in the Ucayali jungle of central Peru. This seismic is designed to confirm a prospect in the Tamaya area and optimise well location selection.
SAE are experienced in the logistical challenges of this jungle area, and have the necessary equipment in the field ready to start. The project is scheduled to start in June 2009 and be completed by November during the dry season.
This work will fulfil our work commitment for this second phase of the contract. The next phase of the work programme specifies an exploration well to a minimum depth of 2,850 metres or into the main Cushabatay Formation target of Cretaceous age.
Block 131
We are pleased to announce that the required phase 1 work program in neighbouring jungle Block 131 has been completed. This included reprocessing of c. 500 km of 2D seismic, and a geological-geophysical evaluation of the block to define prospective areas or leads.
Environmental permitting proceeds well in Block 131, in anticipation of the 300km seismic acquisition program required in the next phase. Geological field work has been carried out, which together with reprocessed seismic has revealed several new leads.
Seismic work should start by end 2009 with new seismic acquisition scheduled for mid 2010.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call