Dallas, TX: ReportsandReports announce it will carry Cano Limon, Colombia, Commercial Asset Valuation and Forecast to 2031 Market Research Report in its Store.
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The Cano Limon field is located in North-Central Aracua department at the Colombian northeast border with Venezuela. The field is located north/south and is approximately 8,000 ft beneath the Aracua River.
It is covered by sparsely populated hot and humid flatbeds. The Cano Limon production facility is located 10km from the Venezuelan border.Oil production at the Cano Limon field is carried by the Cravo Norte Association (CNA) contract which is a for-profit joint venture between Ecopetrol, Colombia's state owned oil company, Occidental Petroleum Corporation (OXY), a US based Company and Repsol YPF. Occidental is the operator for the Cano Limon field while Ecopetrol owns the pipeline from the field to the terminal in Covenas.
Oil production in Cano Limon began in 1985. Oil produced from thousands of wells is transferred to the two nearby production facilities (PF1 and PF2) for separation of the oil from other liquids and gases. It is stored in Covenas before transporting through the pipeline to the terminal.
Oil is found in the deltaic sands of Eocene Mirador, with some additional reserves in the upper Cretaceous. The average oil gravity is 29.5° API with a sulphur content of 0.41%.
The field produced around 18 million barrels of oil or 49,000 barrels of oil per day in 2009. The original oil in place was 1.80 billion barrels of oil of which 1.06 billion barrels of oil is recoverable with strong water drive. Until December 2009, the total estimated recovered oil is 1,218 million barrels of crude oil. The remaining recoverable oil is 113 million barrels of crude oil and the field is estimated to remain in production till 2018.
The field is expected to generate 21.03 billion in revenues (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an IRR of around 27.17%.
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Cano Limon, Colombia, Commercial Asset Valuation and Forecast to 2031 now available at ReportsandReports