Peru well spud count surpasses mark from 2013

Wednesday, December 10, 2014

Ten wells were drilled in Peru in November, bringing the year's total to 101 compared with 94 for all of 2013.

Information from state hydrocarbons licensing authority Perupetro reveals that 90 development and 11 exploration wells were spudded in the first 11 months of 2014 versus 85 development, seven exploration and two confirmation wells in all of last year.

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Last month's wells were drilled by BPZ, GMP and Olympic on respective blocksZ-1, I and XIII.

On the seismic front, 241km were acquired in November compared to a combined 225km in the previous three months and 262km in May.

The 722km shot this January-November, however, is below the 1,168km acquired in all of 2013.

Last month's 2D seismic work was undertaken by Pluspetrol on blocks 88 and 108, and Petrolifera on block 107.

November investment from the 24 production and 46 exploration contracts in place reached US$68.5mn and US$53mn, respectively.

Production and exploration investment in January-November totaled US$571mn and US$428mn, compared with US$952mn and US$492mn for all of 2013.

Perupetro also reported that production of crude, NGLs and natural gas in November was 69,890b/d, 107,760b/d and 1.35Bf3/d (38Mm3/d), compared with 64,020b/, 106,439b/d and 1.21Bf3/d in the year-ago month.

Pluspetrol was the principal crude producer last month, with 10,943b/d from block 1-AB, and the main NGL producer, with 56,420b/d from block 88, which also was the main natural gas producer at 664Mf3/d.

Peru authorities forecast that output of crude, NGLs and natural gas in 2018 will average 133,000b/d, 106,900b/d and 1.48Bf3/d, respectively.