TotalFinaElf has affirmed its presence in this part of the world with a twofold objective: to open access to its vast natural gas reserves and to take advantage of the strong growth of local markets.
In the Southern Cone countries, TotalFinaElf is continuing to strengthen its positions across the entire gas chain as an active player in power generation markets, where a large percentage of growth will be driven by gas-fired plants.
In Colombia, combined production from the Cusiana-Cupiagua field (TotalFinaElf 15.2%) totaled 340,000 b/d. On the Gaitanas permit, results from the 1999 seismic survey led to the decision to drill a first well in 2001.
In Venezuela, the Sincor project (TotalFinaElf 47%) advanced according to schedule. The initial production phase, which started in December 2000, will lead to production of 40,000 b/d of extra-heavy oil that will be diluted with a lighter crude and marketed without further treatment. This first phase will terminate at the end of 2001, when the upgrader is due to be commissioned. At peak level, Sincor will produce 180,000 b/d of high-quality synthetic crude. Production from the Jusepin permit (TotalFinaElf operator with 55%) averaged 30,000 b/d in 2000. Launched in 1999, the project to maintain reservoir pressure advanced with water injection as of August and gas injection as of December 2000.
In Brazil, a 3D seismic survey covering 3,000 square kilometers was carried out in the Campos Basin on Block BC2 (TotalFinaElf operator with 35%). Interpretation was also completed in 2000, and drilling of the first well started in December.
In Bolivia, on the XX West permit (TotalFinaElf operator with 41%), delineation of the Itau discovery was continued with the drilling of the Itau X2 well, which will be completed in early 2001. On the same license, a seismic survey was carried out in preparation for further exploration on the other anticlines. On the San Alberto permit (TotalFinaElf 15%), the first phase of development was completed in December 2000, for production start-up in January 2001. This initial gas production will reach 212 Mcf/d, for export to Brazil. On the San Antonio permit (TotalFinaElf 15%), work continued after the discovery made with the Sabalo X1 well in 1999. Drilling of a second well Sabalo X2, is under way.
In Argentina, production on the Cuenca Austral permit rose by 9% in 2000, to 31,000 boe/d. This increase was driven by the start-up of the LPG extraction facilities and an additional compression train at the Cañadon Alfa plant. The LPG (butane and propane) is exported to Chile and Brazil.
In the province of Neuquen, equity output grew 10% to a combined 26,000 boe/d from Aguada Pichana (TotalFinaElf operator with 27.27%) and San Roque (TotalFinaElf operator with 24.71%). With the commissioning in October 2000 of an additional 185 Mcf/d gas processing unit at the San Roque site, production will continue to grow in 2001.
In Trinidad and Tobago, the Aripo well (TotalFinaElf 30%) was drilled in May 2000 to appraise a second compartment of the Grand Angostura structure. The well resulted in a gas discovery.
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