Professional Documents
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Blocks: MEN_502
Meseta Espinosa Norte
April, 2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC.
1. Study Area – General Characteristics
Contents
2. Geology Diagnose
5. Conclusions
POSSIBLE SKIN DAMAGE & INYECTIVITY LIMITATION ASSUMPTIONS
AX
en
M Damage.
t
UD
W
op EIG • Additionally, Injectors Stimulated
er HT
ati ( (Fracture) during completion had
on Du
Depletion ) r in Subsequent Higher Injectivities.
gO
Over Balance during OHL HL • The effect of the Presence of CO2
+ Pressure drop --> Possible
Carbonates Precipitation (65% of
Wells)
11/27/2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 126
1. Study Area – General Characteristics
Contents
2. Geology Diagnose
5. Conclusions
SELECTED OPTIMIZED DEVELOPMENT PLAN (SODP)
2
3 05 95 1
R eturn to produ cer 30 3
Worko ver Produ ce r 10 54
1 63 298 277 131 1 12 162
P ulling 9 31
D ril ling pro duce r 98 3
C onver t o ni jec tor 29
MEN-5014
15 1 1 32 1 10 1 50 87 88
42 1 32 3 4
42 2 6 12 37 4
6 13 99
14 9 1 48 1 20
14 9 6 15 1 5 0
3 113
14 7 616
12 8 87 6 14 6
89 3 8 40
87 1
142
Active Producer
Returnt oproduc er 305 951
13
303
WorkoverP roducer 105 4
163 298 277 131 162
Pulling 112
931
Dril ling producer 983
Convert toinject or 29
In Study
150 87 88
3
151 132 110
32 34
421
MEN-3180
422 612 374
MEN-3181(d)
613 99
149 148 112 0
*
149 615 1 50
3113
147 616 146
128 876
MEN-3182
840
893
871
MEN-5012ST1 Inactive 9
MEN-5031 MEN-5052
Termporarily abandoned
142
-
Return to producer 305 303 951
W orkover Produc er 1054
163 298 277 131 162
Pul ling 112
Dr il ling pro duc er 98 3 931
29
Convert to inje ctor
Dr il ling inj ecto r 304 950
Ac tive P ro duc er 1168
97 4 532 299 134 160 158 97
In Study 159/I
Inactiv e
7 1019
W FR eser ve 938 31 3086 27 9 20
Temporari ly abandoned 120
Abandoned 1100
193 G
193/ 10 37 505 157 12 6 156 15 5 1152 98
34 86
61 1
37 1121
3007 1093
150 87 88
151 132 110 3234
421
422 612 374
613 99
149 148 1120
MEN-3179 Abandoned
1149 615 1150
MEN-5011 -
311 3
840
893
871
MEN-5010
MEN-3152 *
MEN-3151
MEN-5017
MEN-5018
MEN-3178
MEN-5051 4 PU (Prod) , 2 PU (Inj)
MEN-5032(d)
MEN-3150 MEN-5015 * Overlapped Hk maps
MEN-5033
MEN-3149 * (8 Res.@ OOIP P1)
Fault polygon @ Fm. CO
MEN-3177 MEN-3154
MEN-3148 MEN-3153
Mechanical integrity
MEN-3155
Low Risk
High Risk
Hk2p [m] MEN-5090
0.00 5.00
ME-3065 10.00 15.00 20.00 25.00 30.00 * Wells with fish , But does not affect WF
11/27/2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 128
MAPPED OOIP DISTRIBUTION ANALYSIS
OOIP P1 OOIP P2 OOIP P1
[Mm3] [Mm3] [%]
900 100%
800
80%
700
600
60%
500
400
40%
300
Discarded*
Discarded*
200
Discarded
WF PILOT
WF PILOT
WF PILOT
WF PILOT
WF PILOT
WF PILOT
WF PILOT
WF PILOT
20%
100
0 0%
R100
R28
R66
R115
R31
R58
R22
R41
R25
R48
R40
R27
R39
R68
R62
R72
R51
R75
R37
R50
R30
R34
R57
R49
R85
R33
R4
R1
Reservoirs
Cat. A Cat. B Cat. C
8 WF Selected Reservoir
50% 75%
* discarded due to mechanical risk in objective wells (fish)
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 129
SODP - Assumptions & Injection Design
2022
• The project comprises: JOBS
7 8 9
MEN-3149
MEN-3182
MEN-5015
MEN-5052
Pullings
Prod
2022.
• Reservoirs: 8 selected for the WF process.
MEN-3148
MEN-3151
Pullings
• Injection Rate: 345 m3/d (0.10 PV/year). Inj
R4 R25
MEN-5008 MEN-5008
MEN-5016 MEN-5013 MEN-5016 MEN-5013
MEN-5030 MEN-5009 MEN-5030 MEN-5009
MEN-5014 MEN-5014
P ro ductor cerrado
P ro ductor abierto
Iny ector cerra do
MEN-3155 MEN-3155
Iny ector abie rt o
Flow
ND
NR
FO
70
element
MEN-5090 MEN-5090
ME-3065 ME-3065
ME-3063 ME-3063
MEN-5049 MEN-5049
Fault
Ht Polygon
R27 R28
OWC
MEN-5008 MEN-5008
GOC MEN-5030
MEN-5016 MEN-5013
MEN-5009 MEN-5030
MEN-5016 MEN-5013
MEN-5009
MEN-5014 MEN-5014
P1 Polygon
MEN-3180 MEN-3181(d) MEN-3180 MEN-3181(d)
MEN-3182 MEN-3182
2P Polygon MEN-5031 MEN-5052
MEN-5012ST1 MEN-5031 MEN-5052
MEN-5012ST1
MEN-5032(d)
ME-257 MEN-5015 MEN-5032(d)
ME-257 MEN-5015
MEN-3150 MEN-3150
MEN-3149 MEN-3149
MEN-5033 MEN-5033
MEN-3155 MEN-3155
MEN-5090 MEN-5090
ME-3065 ME-3065
ME-3063 ME-3063
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 142
SODP - Reservoir Hk Maps & Flow Elements
MEN-5049 MEN-5049
R31 R39
MEN-5008 MEN-5008
MEN-5016 MEN-5013 MEN-5016 MEN-5013
MEN-5030 MEN-5009 MEN-5030 MEN-5009
MEN-5014 MEN-5014
EH-225
Well ID MEN-3177 MEN-3154 MEN-3177 MEN-3154
MEN-3153 MEN-3148 MEN-3153
MEN-3148
Well Status
P ro ductor cerrado
MEN-3155 MEN-3155
P ro ductor abierto
Iny ector cerra do
Iny ector abie rt o
Flow
ND
NR
FO
70
element
MEN-5090 MEN-5090
ME-3065 ME-3065
ME-3063 ME-3063
MEN-5049 MEN-5049
Fault
Ht Polygon
R40 R41
OWC
MEN-5008 MEN-5008
GOC MEN-5030
MEN-5016 MEN-5013
MEN-5030
MEN-5016 MEN-5013
MEN-5009 MEN-5009
MEN-3155 MEN-3155
MEN-5090 MEN-5090
ME-3065 ME-3065
Chanelling
ME-3063 ME-3063
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 143
SODP– Analog Analysis
• 8 blocks were analyzed based on: production history with WF, production
estimation by Sinopec, oil and liquid projections, WF Studies and excel files.
Selected Effective
RF% Inc RF% Inc
WF Process mo (cP) M Reserv. Cont. By WF by WF Prod / Inj
@ Pb, Tres For WF Fraction @OOIP Tot @ OOIP Cont. Active
%
Injection
80
Qomax - High 37 m3/d
Liquid Forecast
100 Inside OOIP 2P Qomax – Mid 27 m3/d
10
Injector Wells
EOC @09-2025
1 0
2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 145
SODP – Forecast P1 - WF PILOT only
WF PILOT
1000 100
Injection
80
Qomax - High 33 m3/d
Liquid Forecast
100 Inside OOIP P1 Qomax – Mid 23 m3/d
10
Injector Wells
EOC @09-2025
1 0
2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 146
SODP – RECOVERIES @ EOC + 20 YEARS – MID CASE
OOIP [Mm3] PILOT CASE - @ EOC +20 YEARS – MID CASE 2P
Group
11/27/2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 152
SODP – Resume 2P
Incr. Oil Recov. - 2P Incr. Oil per Job - 2P Develop. Cost - 2P
Scenario [Mm3] [Mm3/Job] [u$s/bbl]
@ 2025 @ 2035 @ 2045 @ 2025 @ 2035 @ 2045 @ 2025 @ 2035 @ 2045
HIGH 22 75 106 4 13 18 33 10 7
FR% 25
MID 16 57 84 3 10 14 45 13 9
FR% 20
LOW 10 42 64 2 7 11 72 17 11
FR% 15
15
5
10
15
10
Overlapped Hk maps
10
10
15
5008
5
20
(8 Res.@ OOIP5016
2P )
10
20
20
5013
15
5009
10
5014
13 / 17 / 21
15
25
25
10
20
20
5/7/8
•
15
10
OOIP MEN_502 = 5,982 Mm3 ,
10
3180 3181(d)
10
25
Incr. Oil Rec.
25
3182
5012ST1
15
10
•
20
20
5052
Cont. OOIP MEN_502 = 442 Mm3
10
25
10
@2045
25
15
25
15
15
45 / 58 / 73
10
20 15
3179 10
7 / 10 / 13
[Mm3]
•
15
15
3152 25 3151 25
15
15
10
19 / 25 / 31 10 / 12 / 16
•
5
5
5/7/9
20
15
20
5051 5
25
15
MID CASE
25
10
•
5
20 30
20
HIGH CASE
3150
3149
5015
20 Total estimated Invest. = 0.72 MMu$s.
5
25 25 15
10
20 20
20
19 / 26 / 33 4/5/7
WF Pilot
15
15
20 5
10 5
15
15 10
10
15
3148 10
3153
5
10
5
10
5
10
5
5
5
5
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 157
Cash Flow Results for Economic
P1 / EOC (Sep/2025) 2P / EOC
Low Mid High Mid Cash Flow - EOC
#JOBS 6 6 6 6 1,500
Pulling + ONZ 2 2 2 2
1,000 847
PU Injectors 2 2 2 2 707
PU producer 2 2 2 2 500 430 519 370 450
MUSD
CAPEX [MUSD] 344 1,070 1,960 1,290
0
GROSS PRODUCTION [MBOE] 55 85 121 98 2022 2023 2024 2025
IRR [%] 22 22 22 22 -500
NPV @ 15% [MUSD] 37 119 217 143 -1,000
DPI @ 10% 1.2 1.2 1.2 1.2 -1,053
2.4 -1,500 -1,270
PAYOUT [years] 2.4 2.4 2.4
Development [us$/BOE] 6 13 16 13
MUSD
PU 2 4 2,001
1,070
WO / + Frac. Inj. 2 4 3,515 1,000
WO 2 4 2,893 460
500 344
0
Low Mid High
Capex / break even
P1 / EOC (Sep/2025) 2P / EOC (Sep/2025)
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 158
Cash Flow Results for Economic
P1 / Economic limit 2P / Eco.Lim
Low Mid High Mid
Cash Flow - EOC / Economic Limit
#JOBS 6 6 6 6 1,000 820
688
563
Pulling + ONZ 2 2 2 2 413496 465 479
387
500
PU Injectors 2 2 2 218297
2 80155 27
PU producer 2 2 2 2 0
2022 2023 2024 2025 2026 2027 2028 2029
MUSD
CAPEX [MUSD] 420 1,480 2,900 1,840 -500
GROSS PRODUCTION [MBOE] 98 205 334 253
IRR [%] 20 19 18 18 -1,000
NPV @ 15% [MUSD] 36 107 173 127 -1,500
DPI @ 10% 1.2 1.2 1.2 1.2
-1,467
Development [us$/BOE] 4 7 9
7 P1 MID-EOC+Eco.Lim 2P MID-EOC+Eco.Lim
Recovery factor 15% 20% 25% CAPEX Limit [MUSD] / Economic Limit
Economic Limit Date 2027/01 2028/10 2030/08
4,000
3,500
3,500
Equipment Injectors Producers CAPEX 2,900
3,000
PU / + Frac. Inj. 2 4 2,497 2,500
MUSD
PU 2 4 2,001 2,000 1,840
1,480
WO / + Frac. Inj. 2 4 3,515 1,500
WO 2 4 2,893 1,000
420 575
500
0
Low Mid High
CAPEX / Break even
P1 / Economic limit 2P / Economic limit
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 159
CONCLUSIONS
Economical
1. The production profiles of the Low & Mid scenario are uneconomical.
2. The selected Capex has the main objective the fracture / stimulation of two injection wells.
3. The most attractive scenarios are in FR> 20% and with an extension beyond of EOC.
4. The high CAPEX of the activities is due to the days of intervention (Operation risk).
11/27/2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 160
CONCLUSIONS
Injectors
1. Design & Mandrels Configuration was Acceptable.
2. 35% of WF Selected Perforations Had Good adm (on target) (Wells 3148/3151/3179).
3. MEN-3148/3151 (Fractured on Completion) Had Acceptable Injectivity.
4. WF Selected Perforations with SRT Low Admission did not Admit Injection.
5. Water Quality Generated Carbonates Precipitation/Sediments Reduced Injectivity &
Increased Mechanical problems.
6. Possible Skin damage on MEN-5051/5052 (Depleted Resv.) due to Overbalance Mud Pressure
during Driling and WL OHL.
Producers
7. Possible Underexploited Producers During WF Process.
8. Presence of CO2 + Pressure drop --> Possible Carbonates Precipitation Increased
Mechanical problems. (65% Of Wells)
Economical
9. The production profiles of the Low scenario are uneconomical.
10. There is uncertainty in the costs for each type of activity proposed.
11. The most attractive scenarios are in FR> 15%.
11/27/2021
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 161
GENERAL CONCLUSION
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 162
RECOMMENDATIONS
1. WF “Pilot” with Monitoring and Surveillance (Injectors &
Producers). Increase Flow log Activities (2/year).
2. Stimulate (Fracture) Layers with SRT Low Admission
Results.
3. Continue Improving/Monitoring Water Quality.
4. Maintain Current Selective Mandrels Configuration.
5. Evaluate Increase Injection Pressure
6. Perform analysis of possible causes of incrustations in
producers a propose a chemical treatment.
SINOPEC ARGENTINA
EXPLORATION AND PRODUCTION, INC. 163
THANK YOU
www.sinopec.com