Page 10 - LatAmOil Week 11 2021

LatAmOil GUYANA LatAmOil

The statement did not say when the US would make it even larger than Stabroek, which
super-major and its partners expected to finish is currently estimated to contain 9bn barrels.
work on Jabillo-1. It did note, though, that the (Stabroek is home to Liza-1, which is currently
companies intended to start drilling their third Guyana’s only producing oilfield.)
exploration well at Canje – Sapote-1, located in Equity in the Canje project is divided
the eastern section of the block – later in 2021. between ExxonMobil, with 35%; Total (France),
The Stena DrillMAX will be used for this well, with 35%; JHI (Canada), with 17.5%, and
it added. Mid-Atlantic Oil & Gas (Guyana), with 12.5%.
JHI also commented on drilling results from JHI used to have a larger stake in the block, but
Bulletwood-1, the first exploration well sunk at it reduced its equity holding via a farm-out deal
Canje. It reported that that the well contained with Total in 2018. ™
non-commercial quantities of hydrocarbons
and said that the outcome had confirmed the
partners’ interpretation of the Bulletwood field’s
geology. It also stated that its own technical team
intended to “conduct a detailed analysis inte-
grating the data from the [well] into its ongoing
evaluation of the Canje block.”
John Cullen, the CEO of JHI, commented:
“We are encouraged by the impact the data col-
lected so far will have on our interpretation of
the block’s prospectivity and look forward to
further evaluation of the significant exploration
potential [of] the Canje block through the drill-
ing of the Jabillo and Sapote prospects.”
According to previous reports, Canje may
turn out to hold a total of 10bn barrels of oil. This ExxonMobil has spudded the Jabillo-1 well at the Canje block (Image: OilNOW.gy)

Total set to transfer stake in

Orinduik to TOQAP Guyana JV

QATAR Petroleum is set to become an indirect the deal they signed on January 14, 2016. Under
shareholder in Orinduik, a deepwater block off- that document, Tullow and its partners may also
shore Guyana, under an agreement with France’s seek another extension in early 2023, Eco Atlan-
Total. tic said. If their request is granted, they will enter
Earlier this week, Eco (Atlantic) Oil & Gas, into the second renewal period.
a minority shareholder in Orinduik, reported Colin Kinley, Eco Atlantic’s COO and
that Guyana’s Department of Energy had given co-founder, said that the department’s decision
its final approval to Total’s plan for transferring would help Tullow and its partners move ahead
its 25% stake in the block to a joint venture with with work at Orinduik.
Qatar Petroleum. Equity in this joint venture,
which will be known as TOQAP Guyana, is split
60% to Total E&P Guyana and 40% to Qatar
Petroleum, the company said in a statement.
The transfer of Total’s stake to TOQAP Guy-
ana will not affect the other shareholders in the
project, the statement indicated. Tullow Oil
(UK/Ireland) will retain its 60% stake in and
operatorship of the block, while Eco Atlantic
will keep its 15% stake, it said.
According to the statement, Guyana’s
Department of Energy has also agreed to extend
the exploration licence for the Orinduik block. It
has notified the government and the companies
participating in the project that the term of the
licence has been extended to January 13, 2023.
This move will allow the investors to enter into
the first renewal period, in line with the terms of ullow and its partners have already made two finds at Orinduik (Image: Eco Atlantic)

P10 www. NEWSBASE .com Week 11 18•March•2021