Abkatún Pol-Chuc

Wed, 01/22/2014 - 16:36

Abkatún Pol-Chuc


Abkatún-Pol-Chuc started production in 1980. After its oil production peaked in February 1996 at 754,934b/d, it gradually declined to reach 293,576b/d in 2013 and 300,418b/d during the first quarter of 2014. Natural gas production stood at 579.2mcf/d during 2013, which increased to 609.8mcf/d during the first quarter of 2014. AbkatúnPol-Chuc has so far produced 5.54 billion barrels of oil and 6.35tcf of gas, with natural gas production having fluctuated between 400 and 650mcf/d since 2000. Current 1P reserves amount to 754.37 million boe, with 554.92 million barrels of oil proven reserves and 1.08tcf of proven natural gas reserves.

Abkatún-Pol-Chuc is located in the Campeche basin, between the states of Campeche and Tabasco, and lies approximately 132km northeast from the Dos Bocas maritime terminal. Production in the complex is comprised of 16 fields, out of which four make up the majority of the project’s hydrocarbon output: Ixtal, Kuil, Chuc, and Caan. Oil production from Ixtal during the first quarter of 2014 accounted for 64,011b/d, while Kuil, Chuc and Caan followed with 61,161b/d, 53,533b/d, and 15,273b/d respectively. During 2013, Ixtal was also the largest oil producer with an average yearly output of 71,393b/d, while Chuc and Kuil produced 54,421b/d and 47,760b/d respectively, with Kuil recording a 157% increase in oil production. Ixtal and Kuil are the asset’s top two natural gas producers, with 153.9mcf/d and 99.13mcf/d average production during 2014’s first quarter, after Kuil experienced a near threefold production increase in 2013. Caan produced 95.42mcf/d during the first quarter of 2014, while total production for 2013 reached 103.41mcf/d, making it the third largest gas producing field in the asset. Throughout 2013, three new fields have gained increasing prominence in the complex: Onel, Etkal, and Chuhuk. Onel’s production started in February 2013, with 2,230b/d and 3.74mcf/d, which increased to 25,090b/d and 42.30mcf/d during the first quarter of 2014. Similarly, Etkal has seen a significant rise in production from 160b/d and 18.50mcf/d in early 2013 to current levels of 1,638b/d and 28.72mcf/d. Chuhuk produced an original output in mid-2013 of 320b/d and 2.41mcf/d, and has reached 12,583b/d and 13.63mcf/d in 2014. PEMEX has an ongoing exploitation project for the Chuc, Caan, Homol, Abkatún, Taratunich, Pol, Kanaab, Batab, Tumut, Kuil, Onel, Chuhuk, Pokoch, Wayil, Uchak, Toloc, Ché, and Etkal fields. The objective of this project is to recover 654 million barrels of oil and 1.22tcf of 2P reserves through a projected investment of US$10.5 billion (MX$137.2 billion) and an OPEX of MX$33.2 billion over the duration of the project. By drilling 54 wells and carrying out 38 major repairs as well as applying EOR methods such as natural gas injection in Abkatún and Chuc, PEMEX expects to stabilize the fields’ production decline. Additionally, this project was responsible for the initial development efforts of Kuil, Onel, Etkal, and Chuhuk. Through the execution of this project, PEMEX aims to recover 3.5% of the country’s total 2P oil reserves as well as 3.5% of Mexico’s 2P gas reserves. Investment efforts for the recovery of 1P and 2P reserves in the Ixtal-Manik project began in May 2013. As of January 2014, the project holds 181.31 million boe proven reserves between both fields, consisting of 132.42 million barrels of oil and 131.46bcf of natural gas. The timetable of PEMEX’s exploitation project for Ixtal-Manik, as presented by PEMEX to CNH, has the objective of recovering 169 million barrels of oil and 342bcf of gas in the period between 2013 and 2034. The total investment planned for this project is US$3.65 billion (MX$42.6 billion), with an OPEX of MX$12.9 billion. This consists of drilling seven development wells, two injection wells, execute seven major repairs and 16 minor repairs, as well as 70 well-stimulation operations.