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Oil Company Concluded Successful Studies in the Pre-Salt and Has Already Hired a Semi-Submersible Rig
The oil field Echidna is located in the exploration block S-M-1102 of the Santos pre-salt basin, approximately 112 kilometers off the coast of Santa Catarina, Brazil, at depths of 400 m.
The field has an estimated 75 million barrels of oil. It is wholly owned by Karoon Gas Australia, which is currently in the planning and assessment phase of the asset to facilitate the full development of the field.
Karoon has held a 35% interest in the blocks for Exploration and Production in the Pacific since 2012, but later showed interest here after technical studies revealed the true potential of our watersheds.
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The evaluation campaign is already underway and engineers are dedicated to starting activities and initiating contracts, with plans to begin the first production of hydrocarbons in the region by 2020.
Karoon plans to drill two evaluation wells in the field, which will be called Echidna-2 and Echidna-3.
Echidna-2 will be designed to enter the reservoir in a submerged position, while Echidna-3 will be designed to enter in a sub-surface position.
Technical information and detailed data on the reservoir properties will be collected through a conventional correction program, and will definitively inform the properties that constitute the field, including its economic viability.
A semi-submersible drilling rig has been hired to drill the two evaluation wells, along with two other optional wells also planned in the blocks operated by Karoon.
Karoon is planning to develop the Echidna with a maximum production rate of 30,000 barrels of oil per day.
The site development plan includes the creation of three production wells, two injection wells, and a Floating Storage and Offloading Unit (FPSO). The FPSO will be located at a maximum water depth of 400 m.
Karoon has hired Wood Group to provide engineering services for it. This news has even resonated in the international market, which you can check by clicking here.
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