Project Profile
Value: US$1.4 billion
Location: Cardon IV block in the Gulf of Venezuela
Start-up Year: 4Q 2014
Production: 50 million cubic feet of gas per day in 2015 and 1200 million cubic feet in 2020
Water Depth: 60m
Reserves: 17 trillion cubic feet (Tcf) of gas in place and 3.1 billion of barrels of oil equivalent (boe)
Natural gas exploration and production contract over 25 years. Part of PDVSA Rafael Urdaneta Project. Three phase exploration program, phase 1 - 500 sq km seismic, phase 2 - 1 well, and phase 3 - one well. Total exploration investment US$35 million. Signature bonus US$34.4 million. PDVSA have 35% farm-in rights if commercial discovery made. Possible reserves of 7 billion m³. The Perla field is 60 metres deep and could have a surface of 33 square kilometres.
Option for a fast track development of the project through an early production phase of 300 million cubic feet per day with an initial target start up date of mid 2013. The early production phase could include utilisation of the wells already successfully drilled and the installation of light offshore platforms linked, through a gas pipeline, to a central processing facility located onshore. New production facilities will comprise offshore structures, trees, controls, offshore processing, subsea flowlines, export pipelines, the shore approach and utilities facilities from the wellheads to an onshore gas plant, and tie-in to an existing gas and condensate pipeline system.
In July 2015, Eni has started production of the gas field Perla, located in the Gulf of Venezuela in the Cardón IV Block. Perla is the largest offshore gas field discovered to date in Latin America and the first gas field to be brought to production offshore Venezuela. Perla is the largest offshore gas field in Latin America and the first gas field to be brought to production offshore Venezuela. Developed in 5 years only, the field will produce 450 million cubic feet of gas per day in 2015 and 1200 million cubic feet in 2020. Eni’s net gas production will reach 40,000 barrels of oil equivalent per day in 2015 and 110,000 in 2020. Perla currently holds 17 trillion cubic feet (Tcf) of gas in place, which corresponds to 3.1 billion of barrels of oil equivalent (boe), with additional potential.
Operators:
Repsol YPF Venezuela, S.A.: Operator with 32.5% interest
Eni Venezuela BV: 32.5% interest
PDVSA (Petroleos de Venezuela SA): 35% interest
Contractor:
Ampelmann: Contracted to support Walk to Work campaign.
Foster Wheeler: FEED contract and PMC contract
Saipem: E&C Offshore contract
Seaway Heavy Lifting: Contract with Cardon IV in Venezuela for transportation and installation of the Perla project gas production platforms complete with tie-in of the subsea infrastructure. Seaway Heavy Lifting’s crane vessel Stanislav Yudin will execute the lifting and installation work. The vessel will be out fitted with a saturation dive system to perform the tie-ins. In addition to the Stanislav Yudin and its two supporting vessels, a total of 7 tug/barge spreads will be operated to transport the platforms and subsea infrastructure from Gulf of Mexico ports to the site. Project Management and Engineering has already started and is executed from Seaway Heavy Lifting’s home base in the Netherlands as well as from its new project office in the Woodlands near Houston.
Plexus Holdings: Contract with Cardon IV for the supply of mudline suspension equipment services for a development well offshore Venezuela. The value of the order is estimated at US$0.8m. The contract is initially for one well with an option for this to be extended for use on a second.