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Operations Review
The combined production from the
three producing fields in 2009 totaled 183,593 barrels which was
37.2% higher than the previous year’s (2008) total output of 133,806
barrels. The significant increase is attributed to the contribution
of North Matinloc Field which resumed commercial production in
February last year. Summary of the 2009 production from the three
fields is shown below:
2009 Crude Oil Production Summary
(in barrels)
|
|
Nido |
Matinloc |
North Matinloc |
2009 Total |
2008 Total |
|
January |
11,674 |
5,977 |
0 |
17,651 |
17,829 |
|
February |
0 |
6,798 |
995 |
7,793 |
4,083 |
|
March |
12,032 |
4,905 |
0 |
16,937 |
20,219 |
|
April |
0 |
6,882 |
1,948 |
8,830 |
19,590 |
|
May |
11,906 |
4,392 |
1,725 |
18,023 |
0 |
|
June |
11,925 |
3,546 |
3,370 |
18,841 |
0 |
|
July |
0 |
5,115 |
5,670 |
10,785 |
6,731 |
|
August |
11,910 |
4,728 |
3,775 |
20,413 |
9,469 |
|
September |
0 |
5,395 |
3,905 |
9,300 |
2,245 |
|
October |
11,835 |
3,697 |
2,465 |
17,997 |
20,531 |
|
November |
12,060 |
7,083 |
4,276 |
23,419 |
17,286 |
|
December |
0 |
9,076 |
4,827 |
13,903 |
15,823 |
|
Total |
83,342 |
67,595 |
32,956 |
183,893 |
133,806 |
Production from the North Matinloc Field started with a trial flow
from the North Matinloc-2 well using different choke sizes on
February 23 – 26, 2009. At a wellhead pressure of 290 psi, the well
was closed after producing about 1,000 barrels during the test flow
run. The North Matinloc-2 well resumed its steady state production
on April 14, 2009 at a higher wellhead pressure of 420 psi. The
modest production from North Matinloc-2 augmented production from
the Matinloc Field to satisfy the cargo volume requirement of buyer
Pilipinas Shell.
The
consortium completed a total of eleven (11) shipments from the three
fields in 2009, all with Pilipinas Shell whose refinery in Batangas
was temporarily shut down starting January 15, 2010. The yearly
crude sale and purchase agreement with Shell, which expired in
January 2010, was renewed in February 2010. The consortium is still
considering negotiating with other buyers especially when Shell’s
schedule does not allow timely accommodation of SC 14 crude oil
production.
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