Great Energy upbeat in spite of Reconcavo delay

摘要

BRAZILIAN onshore operator Great Energy has pushed back its exploration and development plans for its assets in the Reconcavo basin but remains more bullish than many of its peers in a troubled onshore sector. Great Energy was keen to follow up discoveries made on Block REC-T-107, an exploration permit acquired from another local company Alvopetro, and on the REC-T-108 permit that Great Energy acquired in a Brazilian 13th licensing round in 2015. Both wells were drilled to a depth of about 3400 metres and the company reported that there were strong indications of com-merciality. "We wanted to test the discov- ery on REC-T-108 but we were impacted by the fall in the oil price and the operational challenges affecting our service companies with the coronavirus pandemic," said Rubens Botteri, director president of the company. Like others in the sector, Great Energy has trimmed back its costs "as much as possible" and is helped by the fact it forms part of a group which has its own subsidiaries in the service sector, with customers in the mining sector as well as oil and gas. Great Energy is now making preparations to carry out an extended well test in the third quarter of the year and wants to move into production develop- ment immediately afterwards, Botteri told Upstream. The company also expects to resume drilling activity before the end of 2020.