Vol. 2, No. 5
After many years of civil unrest and terrorist activity Peru has now experienced relative economic and political stability for more than 15 years. A well-established hydrocarbon industry offering attractive terms has helped rebuild this beautiful country. However, faced with rising internal energy consumption, the country is trying to attract foreign companies to undertake exploration in new, possibly high-risk areas like the remote Madre de Dios Basin. Can Peru ever become self-sufficient in hydrocarbons again?
Huge amounts of oil sands in the Western Canadian Sedimentary Basin will in few years time strengthen Canada’s position as one of the world’s largest oil producers. This situation will also last for a long time as more oil can be recovered from the oil sands in the outback than from Saudi Arabia’s deserts.
Highly permeable sand bodies injected into low permeability shales may provide additional reserves to existing discoveries and fields if properly recognized. Such sandstones, a product of postdepositional remobilisation, may also constitute exploration targets in their own right when thick and laterally continuous. Improved understanding and detection of sand injectites has – in fact – led to a recent discovery.
AVO analysis provides the geologists with a powerful tool that give information about pore fluids, lithologies and reservoir pressures. However, AVO signatures can easily be misinterpreted without a proper feasibility study.
Reservoir modelling and reservoir simulation are based on data collected at multiple scales with resolution ranging from sub-millimetre to tens of metres. New software using knowledge of the geological processes forming the reservoir rock now makes it possible to generate more accurate reservoir models, thereby improving prediction of both production profiles and reservoir volumes.
Canada’s oil sands are the world’s largest single hydrocarbon resource. The huge volumes of thick, sticky crude oil – bitumen – are now being exploited at an increased pace. Thanks to thriving oil prices and improved technology, production is bound to double and reach two million barrels per day in only a few years time.