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In the E&P industry, when a company decide to participate in permanent ANP BID Rounds or revitalize a production asset, the time between the decision to start a geological and geophysical studies (G&G) and to take the final decision to proceed or not in such project, is long and can involves investments values that often make the decision a difficult task for some companies.
Green Oil Energy Solutions do not intend to be just a G&G consultancy company, offering seismic exploratory/reservoir interpretation services.
Our main objective is to offer, companies risk sharing on a set of already mapped exploratories opportunities from Reconcavo Basin. Exploratories opportunities with estimated volumes and risk of exploratory success evaluated, quantified in terms of each element of the petroleum system (source, migration, reservoir, trap and containment components).
In this way, we intend to share with the operators companies the cost of the risk involved in regional studies, the assessment of petroleum systems, a detailed seismic interpretation and the time spent by G&G team until to define the prospect to be drilled.
OUR PARTNERSHIP PROPOSAL TO THE MARKET
THE STARTING POINT OF THIS CONCEPT AND BUSINESS MODEL
The consolidation of this project concept, offer to industry, became a reality after ANP/REATE released, to the industry, all Its public data base of wells and 2D/3D seismic surveys. So, we starts downloading data from all onshore Basins we worked recently. Specially dataset from Recôncavo Basin, where my last work performed, for an independent company, was successfully concluded with an economic accumulation oil discovery.
The discovery was result of the company's directors in believing to test, occurrence of oil accumulation in small structures. “En echelon” folds, formed as consequences of transpressive efforts that occur in the Basin. The concept consisted of “testing” small and smoothed folds located at migration “routes”, in the Basin.
Bellow we can see two charts representing oil history production of this well. The left charts present the average daily oil production history. Since its discovery (01/23/2019) the well has had an average daily production of 200bbl/d, with zero BSW (no water production). The right chart shows the total oil production accumulated, since discovery, that is 197,059.23 bbl, until 08/01/2023.
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Source: https://app.powerbi.com (1-GPK-4D)
Based on 1-GPK-4D-BA well oil volume production numbers, let us do a simple and basic value estimation, presented table bellow:
Obviously, this is a simplist value estimation and can not be considered for a scientific and economics professional analysis. But considering cost of exploratory phase, including G&G studies, ANP rounds commitment, drilling and completion rigs, values that can not be presented, obviously, the difference is still a nice and interesting number comparing with others kinds of investments offered by financial marktet. Especially, if we consider that we are just taking in account a small production period.
These numbers became more interesting if we take in account that they were related to a well drilled for Agua Grande reservoir formation with a small and smooth structural closure.
Of course, considering a small closure structure, the result is exceptional and an outlier for a Reconcavo Basin. But it is an encouraging fact for a mature Basin, with a long production history. Indicating that there are possibilities of existing interesting hydrocarbons accumulations volumes to be discovered. The belief in the existence of significant volumes yet to be “uncovered” is corroborated by the recent success of gas accumulations discoveries from IMETAME and AlvoPetro, at Reconcavo Basin.
Based on the financial results presented by 1-GPK-4D well, supported by our professional experience, the knowlodge acquired working since 2011, with mature basins, especially, with Reconcavo Basin, and that seismic interpretaion woks on this Basin have been performed since ANP/REATE gave free access to Its public onshores technical data, that we are presenting our RISK SHARING WORK PROPOSAL MODEL TO THE MARKET.
In case of reservoir interpretation products, we also have a potfolio where the top of the top Agua Grande Fm, of several fields is mapped.
We are also perfoming seismic interpretation working in others mature basins, but at this moments, the main effort and products to be offered are from Reconcavo Basin. As soon as possible, we start conclude some exploratories opportunities from others mature basin (SEAL, Potiguar, Espirito Santo and Paraná), we will be presenting them in our webesite.
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