Tiber Oil Field Explained

Tiber Oil Field
Location Map:USA Texas
Coordinates:26.8783°N -93.2683°W
Country:United States
Region:Gulf of Mexico
Location:Keathley Canyon
Block:102
Offonshore:Offshore
Operator:BP plc
Partners:BP plc (62%)
Petrobras (20%)
ConocoPhillips (18%<)
Discovery:2009
Est Oil Bbl:4000
Formations:Lower Tertiary

The Tiber Oil Field is a deepwater offshore oil field located in the Keathley Canyon block 102 of the United States sector of the Gulf of Mexico. The deepwater field (defined as water depth 1300feetto5000feetft (toft),[1]) was discovered in September 2009 and it is operated by BP. Described as a "giant" find, it is estimated to contain 4to of oil in place.[2] [3] Although BP states it is too early to be sure of the size – a "huge" field is usually considered to contain .[2] It required the drilling of a 10685m (35,056feet) deep well under 1260m (4,130feet) of water, making it one of the deepest wells ever drilled at the time of discovery.[4] [5] [6]

Description

Tiber comprises multiple Lower Tertiary petroleum reservoirs located in Keathley Canyon block 102 about 250miles southeast of Houston and 300miles south west of New Orleans.[7] Tiber is only the 18th Lower Tertiary well to date, and drilling in these formations is in its infancy.[8] The oil from Tiber is light crude, and early estimates of recoverable reserves are around 20–30% recovery, suggesting figures of around 600to of reserves. Sources such as Bloomberg suggest caution, warning that the find is technically complex and potentially could take 5–6 years to produce oil or be lower yield (5–15%) based on "rates talked about" at nearby Kaskida Oil Field,[9] BP's previous giant find (2006) 40miles away.[10] The commercial prospects of the field have not yet been evaluated.

Discovery

BP acquired the Outer Continental Shelf lease of Keathley Canyon block 102 reference G25782, NOAA station 42872,[11] on October 22, 2003, in Phase 2 of the Western Gulf of Mexico (WGOM/GOM) Sale 187.[12] Lower Tertiary rock formations are some of the oldest and most technically challenging offshore rock formations currently drilled for oil, dating to between 23 and 66 million years ago.[13] The plan of exploration was filed in June 2008.[14]

Tiber was initially drilled by Transocean's fifth-generation dynamic positioned semi-submersible oil rig, Deepwater Horizon,[5] with exploratory drilling commencing around March 2009, slightly delayed from the planned date of September 2008. Much of the deeper gulf reserves are buried under salt accumulations thousands of feet thick, which present a problem for seismic exploration. BP had previously developed exploration techniques to bypass this difficulty.[3] Oil was located at "multiple levels".[15] The field was announced on September 2, 2009, and BP shares rose 3.7 percent on the news.[16] With Tiber joining at least ten other successful Lower Tertiary explorations in the area, analysts viewed the announcement as a sign for optimism, and a harbinger of renewed interest in, and production from, the offshore Gulf of Mexico.[17]

Exploration on hold

Following the April 2010 destruction of the Deepwater Horizon while drilling the Macondo well, and the resulting oil spill, all appraisal activities at 33 wells under exploration in the Gulf of Mexico, including Tiber, were placed on hold.[18] At least two rigs that might otherwise have been used for developing Tiber were used to drill the relief wells for the ruptured well.[19]

See also

Notes and References

  1. Web site: Offshore technology roadmap for the ultra-deepwater Gulf of Mexico. United States Department of Energy . 3. 2000 . 2010-06-16.
  2. News: BP Makes "Giant" Oil Find In Deep U.S. Gulf Well . 2009-09-02 . Dow Jones . 2009-09-02 . dead . https://web.archive.org/web/20090912080444/http://www.dowjones.de/site/2009/09/bp-makes-giant-oil-find-in-deep-us-gulf-well.html . 2009-09-12 .
  3. News: What BP's New Oil Strike Means. Reed. Stanley. 2009-02-01. BusinessWeek. 2009-09-02.
  4. BP Announces Giant Oil Discovery In The Gulf Of Mexico . 2009-09-02 . BP . 2009-09-02 . dead . https://web.archive.org/web/20090905160740/http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7055818 . 2009-09-05 .
  5. Web site: Deepwater Horizon Drills World's Deepest Oil & Gas Well . 2009-09-02 . TransOcean . 2009-09-02 . dead . https://web.archive.org/web/20100428004206/http://www.deepwater.com/fw/main/IDeepwater-Horizon-i-Drills-Worlds-Deepest-Oil-and-Gas-Well-419C1.html?LayoutID=6 . 2010-04-28 .
  6. News: ConocoPhillips seeks to expand in Malaysia upstream . Peng . Seng Li . Reuters . Thomson Reuters. 2010-06-17 . 2010-06-08.
  7. News: BP Finds Giant Oil Field Deep in Gulf of Mexico . Krauss . Clifford . 2009-09-02 . The New York Times . 2010-05-01.
  8. News: BP Discovery Brings Deep Water Gulf of Mexico Into Focus. Gelsi. Steve. 2009-09-03 . MarketWatch . 2009-09-03.
  9. News: BP Pushes Back Exploration Boundaries With Gulf of Mexico Find. Fred Pals and Eduard Gismatullin. 2009-09-03. Bloomberg. 2009-09-03.
  10. News: BP make massive oil field find in Mexico. 2009-09-03 . The Scottish Daily Record. 2009-09-03.
  11. Web site: National Data Buoy Cente . Data for Station 42872 - Deepwater Horizon - Keathley Canyon 102 . US National Oceanic and Atmospheric Administration . 2009-09-03.
  12. Web site: Leasing activities information, Lease sale 187 WGOM statistics . PDF . 2003-11-10 . US Minerals Management Service . 2009-09-03 . dead . https://web.archive.org/web/20090919191127/http://www.gomr.mms.gov/homepg/lsesale/187/187ph2ltr.pdf . 2009-09-19 .
  13. Web site: Lower Tertiary . https://web.archive.org/web/20100518225249/http://www.halliburton.com/ps/default.aspx?navid=1375&pageid=3339 . dead . 2010-05-18 . Halliburton . 2009-09-05 .
  14. Web site: Status updates for offshore field development projects: Tiber field. SubseaIQ. 2009-09-03.
  15. News: Mufson. Steven. BP Finds 'Giant' Oil Source Deep Under Gulf of Mexico. 2010-06-18. The Washington Post. 2009-09-03.
  16. News: BBC News . BP in 'giant' new oil discovery. 2009-09-02. 2010-05-01.
  17. News: Carroll. Joe. BP's 'Giant' Find May Revive U.S. Gulf Exploration (Update1). 2010-06-18. Bloomberg. 2009-09-03.
  18. Alison . Fitzgerald . Alison Kodjak . Lorraine . Woellert. BP Credibility Questions Grow as U.S. Lawmakers Press Inquiry. https://web.archive.org/web/20100602030136/http://www.businessweek.com/news/2010-05-28/bp-credibility-questions-grow-as-u-s-lawmakers-press-inquiry.html. dead. June 2, 2010. 2010-06-15. Bloomberg BusinessWeek. 2010-05-28.
  19. Cox. Tony. Conoco Says Tiber Appraisal to Be Affected by Spill (Update4). 2010-06-15. Bloomberg BusinessWeek. 2010-05-12.