Repsol has started the first gas production at the Perla offshore field in Latin America.
During the project’s initial phase, production from Perla, located in the Cardón IV block in shallow waters in the Gulf of Venezuela, is expected to reach 450 million cubic feet of gas a day (Mcf/d) by 2015-end.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
From the field that holds 17 trillion cubic feet (Tcf) of gas in place, the company hopes to start producing 150 million cubic feet (Mcf) of gas a day and use it for local consumption in Venezuela.
Output in the next two phases is expected to increase to 1.2 billion cubic feet a day in 2020.
Repsol plans to maintain this volume until the end of the contract in 2036.
At the Cardón IV block discovered in 2009 by Repsol and Italian company Eni, seven of the 26 wells planned were drilled as part of the development plan.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe wells will feed Repsol’s four producing platforms that use underwater connections to transport the gas onshore for further processing.
Cardón IV is a joint venture between Repsol (50%) and Eni (50%), and holds the Cardón IV license.
According to Repsol, the project serves as the eighth key growth project to be launched as part of its 2012-16 strategic plan.
The other projects that are now operational are Sapinhoá (Brazil), Mid-continent (US), AROG (Russia), Margarita-Huacaya (Bolivia), Lubina and Montanazo (Spain), Carabobo (Venezuela), and Kinteroni (Peru).
Repsol holds rights in eight producing blocks Cardón IV, Carabobo, Quiriquire, Quiriquire (gas), Yucal Placer Norte, Yucal Placer Sur, Mene Grande and Barúa Motatán totalling a net surface area of 853km².
Image: Perla field is located in the Cardón IV block in shallow waters in the Gulf of Venezuela. Photo: courtesy of Repsol.
