Block Z-2B

Block Z-2B Oil and Gas Block Profile

The Block Z-2B Oil and Gas Block is located in the Talara basin, off the northwestern coast of Peru, specifically in the Piura region.

The block is currently operated by Savia Perú S.A., a subsidiary of Ecopetrol S.A..

Block Z-2B is an operating oil and gas block, with a portion of the area in the development stage and a significant part remaining unexplored. As of the last updates, 20% of the block is in the development stage, and 80% is unexplored.

The block covers an area of approximately 960,000 acres. While some sources indicate the block is in shallow water, others suggest that a major portion of the unexplored area is in waters deeper than 400 feet.

The block is geologically located in the Progreso-Tumbes and Talara basins. The Lower Cretaceous Muerto formation is identified as a good source for hydrocarbon generation, with carbonates in this formation being within the oil window and having good oil and wet gas generating potential.
The block's reservoirs are primarily associated with the transgressive fluvial delta or coastal plain-beach geological model, with deeper water areas potentially extending into the basin floor fan complex.

As of 2019 and 2022 data:
- Natural Gas Liquids (NGL): 4.04 million barrels (2P reserves, 2019).
- Gas: 2,802.1 million cubic meters (2P reserves, 2019) and 179.95 million cubic meters (2P reserves, 2022).
- Oil: 2.48 million barrels (2P reserves, 2022).

Historical and current production figures include:
- Gas: 80.11 million cubic meters per year (2019) and 582.2 million cubic meters per year (2022).
- NGL: 0.35 million barrels per year (2019).
- Oil: 2.61 million barrels per year (2019) and 1.93 million barrels per year (2022).
Peak production was achieved in 2010, and based on economic assumptions, production is expected to continue until the field reaches its economic limit in 2036.

The current production is characterized by light crude oil with associated gas, averaging 30-35° gravity. Historical production rates were higher, averaging 24,000-26,000 barrels per day during 1972-85, but declined to 13,400 barrels per day by 2000.
Well production is relatively low, with an estimated ultimate recovery of 150,000 barrels per well, and production declines significantly in the first 16 months of operations.

Despite having seismic coverage, a significant portion of the block remains unexplored. There is potential for a major exploration program in the deeper water areas, which could substantially change the area's production profile.

Operating costs are higher in the deeper water areas, but advancements in drilling and production technology can be applied to improve efficiency.
The block currently accounts for approximately 1% of Peru’s daily oil and gas output.

The block has been subject to changes in ownership and operational responsibilities. Effective December 31, 2000, the operator relinquished 50% of the block area but retained the present producing reservoirs.
Savia Perú S.A., the current operator, offers a range of services including production, exploration, merchandizing, marketing, and various technical services related to hydrocarbon extraction.