A shallow water appraisal well in the Gulf of Venezuela indicates the Perla discovery could hold 1.6 to 1.85 billion boe, operators Eni and Repsol said on 12 April 2010.
Initially announced as a find in September 2009, the partners said the Perla reservoir in Cardon IV block in 60m of water could hold 1 to 1.4 billion boe in 240m of net pay. The Perla 2X appraisal well intersected 260m of net pay and has increased by 30% Repsol’s estimates of the field’s reserves. Eni said room remains for further increases in reserves estimates.
Production tests on the well flowed 50mmcf/d of gas and 1500b/d of condensate. Normalized gas production per well is expected to increase to over 70mmcf/d of gas and 2000b/d of condensate. The partners plan to continue field delineation via the drilling of two new development wells in mid 2010. Eni said the pay is in a carbonate sequence with excellent reservoir characteristics, confirmed by 210m of bottomhole cores.
Eni, Repsol and PDVSA, have begun evaluating options for a fast track development of Perla, through an early production phase targeted to start up in early-mid 2013, the Italian company said. IHS ranks the Perla discovery among the five largest hydrocarbons finds globally in 2009 and the largest gas discovery in Venezuela.
Repsol and Eni each hold a 50% stake in the Cardon IV company which jointly operates the Perla field. In the development phase, PDVSA will have a 35% stake, with Repsol and Eni keeping 32.5% each, and the trio will jointly operate the project.