Drilling imminent on BPZ fields offshore Peru

BPZ Energy expects development drilling to start in July from the new CX-15 platform on the Corvina field offshore Peru, following completion of current pre-drill preparations.

Offshore staff

HOUSTON –BPZ Energy expects development drilling to start in July from the new CX-15 platform on the Corvina field offshore Peru, following completion of current pre-drill preparations.

These preparations include installing a platform anchoring system for redundancy to the existing platform spud can. Sand remediation measures will also be applied around the platform spud can to mitigate sea floor disturbance.

Enhanced platform draft monitoring equipment has been installed, and by late June improvements should have been effected to control system instrumentation.

As for the workover campaign from the existing CX-11 platform, the final completion string is being run into the 14D well, and this should be followed by perforation of a lower zone. Thereafter the workover rig will move to the 15D well.

After reviewing 3D seismic results over theoffshore Albacora field, the joint venture has agreed to restart development drilling. First well should spud by early August, once the Petrex 18 drilling rig has mobilized to the platform, with drilling and completion of the well set to take 12 weeks.

Pacific Rubiales, which has assumed the role of block Z-1 technical operations manager, will carry all planned capital and exploratory expenses this year over the block.

5/13/2013

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