Operations Overview
Petrolifera conducts its operations all in South America, in Argentina, Colombia and Peru. The company’s properties were acquired in these regions in a sequential manner, with acreage in Argentina comprising the initial asset base of the company.
ArgentinaAcquisition of 100 percent ownership of the Puesto Morales/Rinconada Concession and the eventual assumption of full operatorship of the block was consistent with Petrolifera’s operating philosophy. Using new approaches and technology, Petrolifera’s team made a significant new field discovery early in the company’s history and was able to systematically develop Petrolifera lands and the Puesto Morales Norte Field, one of the largest Argentinean discoveries in the past ten years. Subsequently, Petrolifera added to its portfolio of holdings in Argentina through competitive tenders and drilled up the Puesto Morales Norte Field, introducing a pressure maintenance waterflood once the extent of the field had been delineated. |
PeruPetrolifera also holds extensive acreage in Peru. In 2005 the company acquired licenses over Block 106 in the Maranon Basin and over Block 107 in the Ucayali Basin, onshore Peru. In 2009 Petrolifera added a third license covering Block 133, contiguous with Block 107. Block 133 was acquired based on encouraging seismic results from our proprietary Block 107 seismic program, shot in 2007 - 2008. Petrolifera continues exploration activities in Peru that are anticipated to eventually lead to the drilling of several exploration wells. |
ColombiaPetrolifera entered Colombia to secure what the company considered to be a middle ground in terms of risk and reward, compared to that offered in the other two countries where the company is active. Petrolifera now holds three licenses in this highly prospective country, which is considered to have attractive geological conditions conducive to significant hydrocarbon discoveries and is viewed most favorably by the oil industry for its market-driven approach for commodity pricing. |