France
- Vermilion is France’s top oil producer and most active oil and gas company
- Vermilion sees great opportunity to improve oil extraction from vast reservoirs
- France’s large resource basins are relatively unexploited
Operations
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- Background
- Produced 8,246 barrels per day of light, sweet oil per day and 1.1 mmcf/d of natural gas in 2009 from 216 producing wells (189 net), equivalent to 8,421 boe/d
- Reserve life index of 14.2 years based on proved plus probable reserves
- Entered France in 1997, acquiring 3,800 boe/d of mature oil properties
- Increased that production to approximately 6,000 boe/d by 1999 through drilling and workovers and then maintained flat production profile for the next seven years
- Acquired additional 3,900 boe/d of production in 2006
- Recognized as France’s largest oil producer with operations in two core areas
- Paris Basin approximately 60 km east of Paris
- Aquitaine Basin, located 90 km southwest of Bordeaux
- Three of Vermilion's largest oil pools reside in France, Chaunoy in the Paris Basin and Cazaux and Parentis in the Aquitaine Basin
- Combined initial oil in place of more than 1.1 billion barrels, of which less than 400 million barrels has been recovered
- Significant potential for increased recoveries form waterflood improvements and enhanced oil recovery operations
- Produce from 19 separate fields including marine operations at the Parentis Field in the Aquitaine Basin with 28 production and injection platforms
- Significant inventory of development drilling prospects and growing inventory of exploration prospects. Vermilion is also reviewing the growing potential for resource plays in France and is well positioned in two areas of growing interest; 1) Lias Shale oil 175,000 net acres; 2) Aquitaine Basin tight gas 135,000 net acres.
- Established European hub at Parentis head office. This office will support all European operations with a significant increase in technical staff and capability.
© 2009 Vermilion Energy Trust