Peruvian TEA

Tea block LXXXVI Offshore Peru

Exploring One of South America’s Pacific Offshore Basin with World-Class Hydrocarbon

In August 2023 Jaguar Exploration, Inc. (Jaguar) with its partner Condor Energy Limited (Condor), entered into the 4,858 km2 Technical Evaluation Agreement (TEA) offshore Peru with Perupetro. The TEA area covers almost all the Peruvian offshore Tumbes Basin in moderate water depths of between 50m to 1,500m. The block is surrounded by, and incorporates, multiple historic and currently producing oil and gas fields.

The TEA provides Condor and Jaguar with a two-year exclusive option (with the possibility of a further one-year extension) to convert all or part of the expansive TEA area into one or more License Contracts.

Jaguar Exploration is the technical advisor and manages the TEA project.

Strategy

  • Jaguar Exploration Inc, and its JV partners, Condor Energy Ltd, have designed a multi-disciplinary work program to rapidly assess the petroleum prospectivity of the Tumbes Basin. 
  • There are many prospective features across the whole 3D seismic volume and some features outside the 3D which are mapped on 2D seismic. 
  • The portfolio will be high-graded and risked before being audited by independent reserve auditors. 
  • The JV will seek to farm-down some interest in the project before converting the TEA into a conventional exploration contract.
  •  The primary objective is to drill one or more wells to test the oil potential in some of the undrilled prospects high-graded by the technical study.
  •  The secondary objective is to determine the feasibility of a gas-to-power project based on the development of the Piedra Redonda gas field.
strategy
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Work Program Commitment

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During the first year of the TEA execution the Reprocessing in PSDM of 1,000 km2 of 3D Seismic Data and Amplitude vs. Offset Studies have been completed.

Type:                         TEA

JV:                              80% Global 20% Jaguar

Formalization:         Aug/10th/2023

Term:                         Two years

Expiry Date:             Aug/2025

Area:                          4858 km2

Seismic in Block:     7,272 km of 2D

                                    3,639 km2 of 3D PSTM

                                    358 km (PSTM/PSDM)

Water depth:            50 – 1500 m

Wells in Block:         >12 and surrounded discoveries

Geology:                  Tertiary

Play:                          Structural-Stratigraphic 

Tumbes Basing Data & History

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Regional setting & Interpretation

The Oligocene to Recent Tumbes (Peru)/Progreso (Ecuador) Basin is Peru’s most northern, predominantly offshore basin. It is an assemblage of sub-basins locally enclosed by the Chongon-Colonche Hills (Cretaceous Piñon Formation) to the north, an accretionary complex to the west, and the Andes Mountains and Amotape Range (Precambrian and Paleozoic metamorphic terrane) in the east and southeast.

Stratigraphic Column of the Tumbes Basin

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Raya Lead

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STRATIGRAPHIC APPROACH

For many years the Tumbes Basin has been regarded by many Operators as a prospective Structural play zone, however it is quite evident that a stratigraphic play exists in this Basin, and it is a question of finding the right trap at a reasonable depth to prove it.

We believe that this will have a positive impact in the search for hydrocarbons and the overall prospectivity of the basin.

We also believe that with further detailed study and using better seismic data it will be possible to detect better these geo-bodies despite some of them being disturbed by the complexity of the geology in this active margin. 

SALMONETE LEAD

AVO & INVERSION STUDIES

Houston based consultants eSeis Inc conducted pre-stack processing of the 3D seismic volumes, using their proprietary LithSeis technology, to produce a Lithology/Fluid volume and an Amplitude Versus Offset (AVO) volume.
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