Argentina Charco Bayo/Piedras Blancas Field

Several years ago, TIORCO’s Jim Mack began investigating Argentina’s oil basins and observed several reservoir characteristics shared by Argentina’s oil provinces and the Rocky Mountain reservoirs where TIORCO had successfully applied IOR technologies since 1977.

Argentina project area.

In 1999, TIORCO entered the Argentina market with a pilot project in the Entre Lomas Area of the Neuquen Basin, operated by Petrolera Perez Companc (PPC). Today, after more than one million barrels of incremental crude oil production from the Charco Bayo/Piedras Blancas Field, PPC and TIORCO de Argentina continue working as partners to maximize oil recovery. TIORCO has also treated wells operated by Repsol-YPF in the Cuyo Basin of Argentina, near the picturesque city of Mendoza located on the flanks of the Andes mountains.

Venezuela Lagomar Field

In December of 2001, TIORCO treated the first injection well in Venezuela with MARCIT^SM technology. Located in the Lagomar Field, the reservoir chosen for the pilot is in a layered sandstone formation characterized as highly heterogeneous. The field has been under waterflood for over four decades and high water handling costs had resulted in curtailed, or even shut-in production. After extensive diagnostics, it was decided to displace the gel without selective placement or zone isolation.

Results observed five months after treatment showed an average reduction of 30% of water cut for producing wells affected by the injector well. Positive results from this first treatment allowed the extension of the pilot to two additional wells in October 2002. Initial results are expected in 2003.

Suriname Tambaredjo Field

Early 2003, TIORCO completed what may be the first chemical IOR project in the Republic of Suriname. Suriname is located on the northeast coast of South America, bordered by Guyana, French Guyana and Brazil. Independence from the Netherlands was granted in 1975, making it the smallest independent country on the South American continent.

Suriname is probably more recognized for the production of bauxite and gold than oil production. However, there are also significant crude oil reserves that are operated by State Oil Company Suriname N.V. (Staatsolie).

Staatsolie and TIORCO completed a pilot project that included polymer gel treatments in four producing oil wells located in the T58 Development Area of the Tambaredjo Field, located about 100 kilometers from the capital city of Parimaribo. The reservoir is a shallow, unconsolidated channel sandstone; reservoir energy is provided by a strong natural water drive, gas expansion and rock compaction. Staatsolie evaluated several water shut-off options before selecting TIORCO’s MARCIT gel technology.

Initial results from the first well indicate a significant increase in oil production accompanied by a decrease of approximately 60% in the water cut.