Transcript 100-invest

GSEC-100, OFFSHORE MINDORO
PART OF THE PALAWAN MICRO-CONTINENT
PHILIPPINE ISLANDS
PNOC EXPLORATION CORPORATION
OPERATOR
GSEC-100, OFFSHORE MINDORO
ACTIVE PETROLEUM SYSTEM
ACREAGE HAS OIL DISCOVERY
RICH SOURCE ROCKS
LARGE CLOSED STRUCTURES
GSEC-100, OFFSHORE MINDORO
VALID LICENSE UP TO NOVEMBER
2002
FOUR SUB-BASINS WITH VARIOUS
EXPLORATION PLAYS
PART OF THE PROLIFIC PALAWAN OIL
PROVINCE
MANIGUIN-2 DISCOVERY WELL
TECTONIC MAP OF NORTHEAST PALAWAN - MINDORO
122
O
O
14
SOUTHEAST LUZON
MINDORO
NORTH-PALAWAN
-MINDORO
SOUTHWEST
MINDORO
ST
RU T
TH EL
B
OCEANIC
CRUST
IKE-SLIP
EAST MINDORO
PANAY S
TR
EXTENSION REGIME
NORTHWEST PALAWAN SHELF
CUYO PLATFORM
WEST MASBATE
PANAY
ILOILO
OS
GR
NE ENCH
TR
O
10
NEGROS
OCEANIC
CRUST
0
50
SCALE
100km
SU LU
SEA
ADEQUATE SEISMIC COVERAGE
SHELL’S CAMAGO-MALAMPAYA PIPELINE TO PASS THROUGH THE BLOCK
MULTI-PLAY BLOCK
TABLAS STRAITS THRUST ANTICLINES
SEMIRARA CLASTICS
PROVEN SIBAY CLASTIC RESERVOIRS
SANTA FILOMENA REEFS
TABLAS PROSPECT - A
TABLAS PROSPECT - A
TABLAS PROSPECTS
TIME STRUCTURE MAP
(Near Top Mid-Miocene Carbonate)
Prospect A
RESERVOIR
Miocene carbonates in decapitated
shelf edge “reef”
Tablas outcrop samples suggest
good poro-perm in most inner ramp
and/or shelfal carbonates
SEAL
Vertical and lateral seal is provided by
onlapping foreland basin sediments,
believed to be shale dominated, as
observed in Tablas
Additional fault seal potential against
footwall shales
POTENTIAL SOURCE ROCKS
Syn-rift shales in underlying Paleogene
basin
Back-reef/lagoonal mudstones
Foreland basin shales near the
flooding surface (also comprise the
seal)
Seabed HC samples in 1993; gas plume
located in sonar
TABLAS RESERVES (Oil Case)
Prospect A
Minimum Most Likely Maximum
84
260
602
Prospect B
217
673
1,559
Prospect C
164
510
1,183
Prospect D
42
129
299
Prospect E
5
17
39
Prospect F
7
22
52
519
1,611
3,734
Cumulative, MMBO
TABLAS RESERVES (Gas Case)
Prospect A
Minimum Most Likely Maximum
0.62
1.61
3.24
Prospect B
0.91
2.35
4.74
Prospect C
0.86
2.23
4.49
Prospect D
0.25
0.66
1.32
Prospect E
0.04
0.09
0.19
Prospect F
0.04
0.12
0.23
Cumulative, TCF
2.72
7.06
11.21
CONCLUSIONS
PROSPECT A - best trapping geometry
with calculated reserves of 260 MMBO or
1.61 TCF gas based on 4-way dip closure
TOTAL FIELD RESERVES are in the order of
500 to 3,700 MMBO or 2.72 to 11.21 TCF
gas, with further upside potential from
additional leads.
SEMIRARA BASIN
 BP drilled 2 wells in Semirara Island. Targets are
breached by erosion but had oil and gas shows
 Traces of migrated oil recovered from Middle Miocene
sands in Panagatan-1 well. Upper Miocene primary
target was water-wet, with gas shows
 3 large prospects were mapped which have not
undergone substantial inversion
 Stacked Late Miocene sandstone reservoir comprise
main reservoir target, sealed by intra-formational
shales
SEMIRARA BASIN AND GEOSEISMIC SECTION
SEMIRARA BASIN RESERVES
Bess
Minimum Most Likely Maximum
40
75
125
Bertha
50
95
175
Betty
30
60
110
120
230
410
Cumulative, MMBO
FIRST SIGNIFICANT OIL
DISCOVERY OUTSIDE OF
NORTHWEST PALAWAN!
EXPLORATION HISTORY
 Maniguin-A1-X drilled in 1982. Oil shows
attributed to diesel used in mud system.
Encountered good reservoir sands and oil-prone
source rocks. Not tested
 Drilled Maniguin-2 in 1994. Oil leg confirmed.
Flowed ~300 BOPD during open hole test. Flowed
200 BOPD during EPT.
 Drilled Maniguin-3 in 1996. Oil sands not
encountered.
MANIGUIN PROSPECT
GEOSEISMIC CROSS-SECTION, MANIGUIN PROSPECT
Maniguin A-1X
(1982)
Maniguin -2
(1994)
Maniguin -3
(1996)
BASIN EVOLUTION
Alluvium & fluvial sedimentation
during Eocene or older
Pre-Semirara Formation
Deep lacustrine sedimentation
during Oligocene
Maniguin Clastic Unit
Transgressive Clastic Unit
Shallow lake to shallow marine
deposition during Mid- to Late
Miocene
Shallow marine claystone deposited
during Late Miocene to Early
Pliocene
Widespread limestone deposition
from Late Pliocene
Regressive Clastic Unit
Semirara Sandstone
Plate convergence formed
transtensional structures up to
present
NW to NS strike slip faults
EW normal faults
Upper Semirara Formation
Carcar Formation
MANIGUIN HYDROCARBON SYSTEM
STRATIGRAPHY OF CENTRAL SUMATRA PETCHABUN & SONGLIAO BASINS AND CORRELATION
WITH MANIGUIN STRATIGRAPHY
HYDROCARBON POTENTIAL
Maniguin Prospect Hydrocarbon Potential:
– The Maniguin oil sands have limited reservoir potential.
– There is no communication between the source rocks and
established reservoir rock.
Cherry Prospect Hydrocarbon Potential:
– Thicker section towards the prospect.
– Expected that the Semirara Sandstone will be charged with
oil.
– Cut by numerous E-W trending normal faults.
– In a better position to trap oil than the Maniguin Prospect.
GEOSEISMIC SECTION ALONG 92SY-12
CHERRY AND MANIGUIN PROSPECTS
MEASURED MATURITY CURVE (Ro) FOR
CHERRY HALF-GRABEN
Onset of Oil
Generation
Approx. ~
4780 ft
11,200 ft
PLAY FAIRWAY MAP
Cherry Prospect
Mature Kitchen Drainage area = 189 sq.km.
(Drainage divides in blue)
RESERVOIR
Quartzose sands of the Upper
Semirara Formation and
sandstone interbeds within the
Lower Semirara Formation
exhibit good reservoir qualities
based on well and log data
SEAL
Vertical seal provided by at least
1000 ft. of claystones of the Upper
Semirara Formation
SOURCE ROCKS
Thick lacustrine - type, coaly, organic -
rich claystones of the Lower Semirara
Formation penetrated in the Maniguin
wells
TOC values range from 1.27% to 19%
Hydrocarbon generative potential (S2)
from 2.35 mg/g rock to 166.86 mg/g
rock
ROCK EVAL PYROLYSIS DATA (Maniguin-3)
DEPTH
(ft)
TOC
(wt %)
mg HCH / g rock
S1
S2
S3
Tmax
(C)
Hydrogen
Index
Oxygen
Index
Stratigraphic
Unit
Regressive Claystone Unit
Lower Semirara Fm.
3.21
0.36
7.97
1.44
429
248
49.53
4.20
119.20
6.70
241
14
3.03
0.28
9.89
1.86
326
61
34.24
3.43
101.79
4.52
297
13
7.24
0.66
42.06
1.18
581
16
6100 - 6200 coal
44.86
2.83
117.31
6.36
262
14
6200 - 6300
11.43
1.14
73.63
0.97
644
8
6200 - 6300 coal
37.06
2.84
89.60
4.01
416
430
421
435
427
436
432
242
11
9.18
0.94
44.60
1.27
486
14
6300 - 6400 coal
63.69
10.00
175.00
3.75
275
6
6400 - 6500
19.00
3.86
166.66
0.54
877
3
6400 - 6500 coal
46.90
5.91
139.70
3.25
298
7
6500 - 6600
6500 - 6600 coal
17.13
34.84
3.94
5.47
152.81
190.24
0.62
1.99
892
546
4
6
6600 - 6700
16.06
1.87
101.94
1.28
635
8
6700 - 6771
7.37
0.71
40.39
1.03
435
427
441
429
442
441
438
439
548
14
4900 - 5000
4900 - 5000 coal
5000 - 5100
5000 - 5100 coal
6100 - 6200
6300 - 6400
S1 = Free Hydrocarbons
S2 = Pyrolyzable Hydrocarbons
S3 = CO2 from Kerogen Pyrolysis
TOC = Total Organic Carbon
Hydrogen Index = S2 / TOC x 100
Oxygen Index = S3 / TOC x 100
Transgressive Claystone Unit
Lower Semirara Fm.
Transgressive Claystone /
Maniguin Claystone
Maniguin Claystone Unit
Lower Semirara Fm.
Maniguin Claystone Unit
Pre- Semirara Fm.
Tmax = Temperature of Maximum S2
SOURCE ROCK GEOCHEMISTRY RESULTS
 The samples have good to excellent organic
richness
 Accompanied by very good to excellent HC
generative potential (S2) - up to 166 mg HC/g
rock
 The lowermost Lower Semirara Claystones are oil-
prone
 The uppermost Lower Semirara Claystones are oil
and gas-prone
 Expect subsidiary contribution from the coal
 Source rock horizon is immature to early mature
for HC generation in Maniguin area
CHERRY PROSPECT RESERVES
Area (acres)
Minimum Most Likely Maximum
31,500
31,500
31,500
Thickness (ft.)
50
100
200
Porosity (%)
15
20
25
HC Saturation (%)
65
70
80
1.10
1.15
1.20
1,083
2,975
8,146
20
217
25
744
30
2,444
FVF
Oil in Place (MMBO)
Rec. Factor (%)
Rec. Reserves (MMBO)
Water Depth
Top of Semirara Sandstone
: 450 ft
: 3,200 ft
PROSPECT HIGHLIGHTS
 Deformed by strike-slip faulting and slab-pull along the
Negros Trench. This has created normal faults within the
sub-basin.
 Prospects formed by rotation of normal fault blocks.
 Organic-rich claystones were deposited in a lacustrine
environment overlain by sandstones as the lake filled.
 Sediment source is from the Cuyo-Busuanga landmass on
the west.
 Thicker section away from fault hinge line (i.e.
southwards).
 Maniguin Prospect is in the migration shadow of the
CherryProspect.
SANTA FILOMENA
 1993 seismic revealed similarity in structuring and play
types with the Northwest Palawan oil and gas province
 Potential oil-prone source rocks within the Pre-Nido syn-
rift section in either lacustrine shales or carbonaceous
limestones
 Main reservoir targets are the Nido limestones in reefal
and platform facies. Secondary targets are Pre-Nido
limestones and Galoc equivalent sandstones
 Pag-asa shales provide regional seal
 Oil fluorescence detected in airborne survey
 Reserves from 30-90 MMBO for each prospect; Additional
work required to upgrade them to drillable status
PROSPECT MAP
COMPARISON BETWEEN MALAMPAYA AND DEIRDRE PROSPECT
Reserves of 950 million to
6.8 billion barrels of oil with
upside potential from
additional leads !