A production licence and a 27 square kilometre production ring fence was granted for the Harpia Oil Field in August 2009.  Prior to that, the area had been contained within exploration Block 330.

Production from the PACA 1 and PACA 2 discovery wells was Eromanga's first commercial production.  The full field development of the block is planned to commence during 2010.

Eromanga is a 40% participant in the concession agreement with the remaining 60% held by the operator, Nord Oil and Gas.

In January 2008 the Joint Venture re-entered a Petrobras discovery well PTA-3 which had been drilled in 1960. This well had produced oil in drill stem tests and had significant oil shows over an interval of 104 meters. To the delight of JV participants the well casing was in good condition and, after completing the "work over",  PTA-3 was completed as a future producer in March 2008.  This well was declared a discovery and renamed PACA 1. 

The Joint Venture drilled an appraisal well on the block in early 2009.  This well was declared a discovery in May 2009 and renamed PACA 2.

 

Reserve estimates for the Harpia field are based on seismic and drilling undertaken by Petrobras and from data recorded during the Gavea Joint Venture's re-entry and flow testing of the PACA 1 and PACA 2 discovery wells. In addition, a mineral hole on the structure was used to evaluate the extent of the reservoir.

 

Harpia Oil Field - Categorisation of Resources and Reserves

Amounts in Millions of Barrels

 

South Block Reserves

P90

P50

P10

Area (km2)

P50 STOIIP

PACA-1 Area

1.3

1.7

2.1

1.0

11

North Block Resources

C1

C2

C3

Area (km2)

P50  STOIIP

PACA-2 Area

16

22

31

8.2

151

 

 


Definitions are in accordance with the Society of Petroleum Engineers Resource Management System

STOIIP is Stock tank barrels originally in place.

The 1P, 2P and 3P values provide a range of uncertainty for potentially recoverable reserves. "C" designates that the volume is a contingent resource since the evaluation of the accumulation is not sufficiently advanced to fully assess commerciality.   2P or C2 corresponds to a 50% probability that the quantities will equal or exceed the value in the table (ie the median value). 2P represents proved plus probable reserves. 1P or C1 indicate a 90% probability, and, 3P or C3 indicates a 10% probability that the volume will be exceeded.

 

 

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