The company has engaged petroleum consultant Ryder Scott to conduct a petrophysical and field performance study.
The resulting data derived from the study will then be used to complete a reservoir simulation exercise on PetroLatina‘s core fields.
That exercise will include the Los Angeles field which holds approximately 89.7 million barrels of oil in place and has produced 4.8% of that oil in place according to the last reserve report produced by Ryder Scott as at 30 November 2009.
A similar reservoir simulation exercise has been commissioned for the Santa Lucia field, and data from these studies will be utilised by Ryder Scott to produce an updated assessment of the PetroLatina’s reserves and resources as at 31 December 2010, with its report expected to be available during the first quarter 2011.
This study will enable PetroLatina to plan infill drilling and a possible secondary recovery program in the Los Angeles and Santa Lucia fields.
This is in addition to the high resolution seismic reinterpretation being conducted by Arcis Seismic Solutions on the Colon field and the seismic reprocessing, fault orientation and density analysis and formation fluid study being conducted by Landocean Energy Services on the Chuira discovery.
