Gran Tierra Tests Polymer Injection Process to Enhance Oil Recovery at Acordionero
“It's much easier to spend the money on the technical effort to get every last drop out of each field," said Garry Guidry, president and CEO of Gran Tierra Energy.
Gran Tierra tests polymer injection process to enhance oil recovery at Acordioneroyoutu.be
Oil and gas explorer and producer Gran Tierra Energy (TSX:GTE,NYSE:GTE,LSE:GTE) is looking to maximize its resource assets in Colombia and Ecuador through an enhanced oil recovery process, according to President and CEO Gary Guidry.
The enhanced recovery process, which involves injecting polymer into waterflood patterns, is being implemented at the company's Acordionero project in Colombia as a pilot project.
“The single most important thing about enhanced recovery and that mindset of, ‘We're not just going to produce fields on primary production and be happy with a low to medium recovery factor’ is that it's much easier to spend the money on the technical effort to get every last drop out of each field,” Guidry explained.
Gran Tierra has allocated US$70 million in capital towards 2022 development activities for the Acordionero field, which includes 14 to 16 development wells in the Middle Magdalena Valley basin. The polymer pilot project will determine whether this process of enhanced oil recovery will be successful in increasing Acordionero’s ultimate oil recovery factors and remaining oil reserves.
“A philosophy of our company is to try to be as efficient as we can, not only on cost structure … but also to apply the technology in each field, because it's the best use of the investors’ money to try to get every last drop out of each field,” Guidry said.
Gran Tierra operates four key projects in Colombia and Ecuador: its flagship Acordionero project and the Costayaco, Moquete and Suroriente projects. Guidry said when it comes to investment, both countries are stable jurisdictions in which to conduct exploration and production, providing fiscal stability, access to infrastructure and sound business environments.
Watch the full interview with Gary Guidry, CEO of Gran Tierra Energy.
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