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Multinational oil company took on new contract in Brazil to explore pre-salt basins

19 June 2017 to 13: 36
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Multinational oil company took on new contract in Brazil to explore pre-salt basins

Oil company concluded successful pre-salt studies and has already contracted a semi-submersible rig

the field of oil Echidna is located in exploration block SM-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 a estimated 75 million barrels of oil. It is wholly owned by Karoon Gas Australia, which is currently in the asset planning and appraisal phase to facilitate full development of the field.

Karoon has held a 35% stake in the Pacific Exploration and Production blocks since 2012, but has subsequently shown interest in here after technical studies revealed the true potential of our watersheds.

The evaluation campaign is already underway and engineers are dedicated to starting activities and starting hiring, this until 2020, when the first production of hydrocarbons in the region should begin.

Karoon plans to drill two appraisal wells in the field, which will be named 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 submerged position.

Technical information and detailed data on the properties of the reservoir 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 contracted to drill the two appraisal wells, along with two other optional wells also planned on the blocks operated by Karoon.

Karoon is planning to develop Echidna with a maximum production rate of 30.000 barrels of oil per day.

The site's development plan calls for the creation of three production wells, two injection wells and one Floating Storage and Transfer Unit(FPSO). The FPSO will be at a maximum water depth of 400m.

Karoon engaged Wood Group to provide engineering services for it. This news had repercussions even in the international market, which you can see by clicking here.

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