The Itaipu Field in Block BM-C-32 extended in to an adjacent block BM-C-30, in which BPRL has ownership interests. Based on the data available, we
1. Estimated of Itaipu’s Hydrocarbon Initially In Place (HIIP) that extended into BM-C-30
2. Developed an estimate of Recoverable Resources associated with 1
3. Developed outline FDPs that consider two options:
a. Development of the extension via the main Itaipu development facilities
b. Development of the extension via the Wahoo field’s development facilities located in BM-C-30
4. We developed cost estimates and two cashflows that showed the production profiles; development, operating and abandonment costs associated with the two options described under 3.
5. Prepared valuation estimates that show from an investor’s perspective the value of the extension, should it be developed in accordance with either of the FDPs described in 3.
In performing this work we will follow the principles incorporated in the Petroleum Resources Management System. The work was conducted to support the Client’s unitisation discussions with the Itaipu field operator.
