Eni: Tecoalli well in Mexico successfully tested. Area could hold 2 billion barrels

Italian oil company Eni has informed that it has successfully tested the Tecoalli-2 well, in the shallow waters of the Campeche Bay, offshore Mexico.

“The results of the production test performed on the Tecoalli-2 well, located in Contractual Area 1, approximately 200 km West of Ciudad del Carmen, in 33 m of water depth, confirm the excellent production capabilities of the Orca formation and good quality of the oil encountered in this reservoir (30° API, with no CO2 nor H2S),” Eni said on Friday.

During the test, the well reached 7000 BOPD of flow rate, constrained by the capacity of the production equipment. With the final production completion, the well is expected to reach 10000 BOPD.

Two billion barrels

The Techoalli results, and the revision of the reservoir models of the Amoca and Miztón fields, have recently raised Eni’s estimate of the hydrocarbon in place for Area 1 to 2 billion barrels (Bboe), of which approximately 90% oil and the remaining associated gas.

The Tecoalli-2 well will be temporarily abandoned, and will be recovered as a production well in the future development of this field. Eni will sanction the development (FID) of Area 1 (Amoca, Miztón and Tecoalli fields) once the Development Plan is approved by the authorities, with production startup expected in first half 2019.

Mixed week

 

Eni’s week so far has been a mixed one. Namely, in addition to the Tecoalli results, the company has started production from its giant offshore gas field Zohr in Egypt. The company also boasted of reaching its all-time production record of 1 million and 920 thousand barrels of oil equivalent per day (boe/d).

However, also this week, Eni has been informed that it will, together with its CEO Claudio Descalzi, have to stand trial for alleged corruption stemming from a 2011 oil block acquisition in Nigeria.

Responding to the court decision, Eni’s board has reiterated its belief that the company was not involved in alleged corrupt activities in relation to the transaction. Eni’s board further said it was confident that its chief executive Claudio Descalzi was not involved in the alleged illegal conduct and, more broadly, in his role as head of the company.

“Eni expresses its full confidence in the judicial process and that the trial will ascertain and confirm the correctness and integrity of its conduct,” Eni said. Read more here.

 

Offshore Energy Today Staff

 

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Posted on December 22, 2017 with tags .

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