Nautec have signed an agreement for its first production enhancement opportunity as part of the Capital Energy Projects Division, in Western Georgia. Block VIIb contains the Shromisubani oil field, with a P90 Resource Estimate of 9.4 MMbbls. The field is located in Western Georgia and has a well-developed transport, hydrological and electricity infrastructure, dense grid of communications, railway, highways and two oil terminals (75km from the Shromisubani oil field) on the coast of the Black Sea which bounds the block to the west. Block VIIb covers an area of 1,175km2, and contains 80 wells drilled from 1940 to 1994, with 3 wells currently producing around 40bopd from the Shromisubani field. The block is in an attractive geological setting in a proven hydrocarbon basin and has both discovered fields (Shromisubani and Supsa oil and gas fields) and additional upside exploration potential in a wide range of stratigraphic formations based on the result of recently acquired 3D seismic data.
Nautec estimate includes only the P90 zone defined by the third party evaluation (Moscow Oil and Gas Consultants, 2015) which has been defined as areas with low uncertainties (best reservoirs) which are situated along the axial trends of compounded alluvial fans. Nautec’s P90 Resource Estimate (Horizon Ia to V): 9.4MMbbls over a field life of 25years is included in our project modelling which is focused on a production enhancement program within a small area of the Shromisubani oil field.
This asset is the ideal candidate for production enhancement, with petrophysical evaluation establishing additional hydrocarbon bearing zones in existing producing and shut-in wells. By using Nautec’s unique in-house technical capabilities, which integrate our geoscience, subsurface engineering and innovative field develop with life extension solutions, Nautec will significantly increase production.
The focus of Capital Energy Projects has been to identify projects in developing areas, in which we have strong competences, and in which we can make value propositions that differentiate us from our competitors. The first of these projects is the Shromisubani and Supsa oil and gas fields in Block VIIb, Georgia.