Page 9 - LatAmOil Week 19 2022

LatAmOil GUYANA LatAmOil

Some of the individual pay zones were up to said. “The Kawa-1 discovery adds to the grow-
11 metres thick, the statement added. It did ing success story unfolding offshore Guyana,
not specify which horizons had contained the and the integrated Kawa-1 well results further
thickest pay zones, but it did say that it had support our belief in the potentially transforma-
hired independent third-party laboratories and tional opportunity the joint venture has in one of
experts to analyse and study its data after wrap- the most exciting basins in the world.”
ping drilling work at Kawa-1. CGX and Frontera announced the discovery
The results of this work support the con- of oil reserves in the Kawa section of the north-
clusion that CGX and Frontera had already ern Corentyne block earlier this year, marking
reached: namely, that the exploration well the first major crude find outside the Stabroek
contains light crude oil in the Coniacian and block assigned to ExxonMobil (US). Since then,
Santonian horizons and gas condensate in the the partners have said they intend to focus
Campanian and Maastrichtian horizons. “These their exploration efforts on the northern end of
findings are consistent with discovery wells Corentyne.
reported by other operators surrounding the Equity in the block is split 66.67% to CGX
northern portion of the Corentyne block and and 33.33% to Frontera, which is also the major-
de-risks the forthcoming Wei-1 exploration ity shareholder is the former company. The part-
well,” the statement said. ners have also split equity in Demerara, another
It went on to say that the partners were block in Guyana’s offshore zone, along the same
gearing up to spud Wei-1 in the third quarter lines. ™
of this year, assuming that their contracted rig
is released on time by a third-party operator.
This second exploration well will be drilled in
1,912-metre-deep water at a site about 14 km
north-west of Kawa-1. It will be sunk to a depth
of 6,248 metres and will target the Campanian
and Santonian horizons.
According to the companies, the data col-
lected from the Kawa-1 well has raised the
chance of a find at Wei-1 from 29% to 56%. It
has also allowed CGX and Frontera to identify
additional potential in the Maastrichtian, Cam-
panian and Santonian horizons of the central
channel complexes between the Wei-1 and
Kawa-1 drilling sites. These complexes “are the
focus of ongoing technical work,” the statement
said.
Gabriel de Alba, the chairman of Frontera’s
board of directors and co-chairman of CGX’s
board of directors, hailed the release of the inte-
grated drilling results, describing the find at
Kawa-1 as a positive development for the part-
ners. “The joint venture is pleased to announce
that it has successfully discovered light oil in
the Santonian and Coniacian and gas conden-
sate in the Maastrichtian and Campanian at the
Kawa-1 exploration well offshore Guyana,” he Kawa-1 contains both light crude oil and gas condensate (Image: CGX/Frontera)

BRAZIL
Chevron looking for openings to invest

in large new projects offshore Brazil

CHEVRON is looking for openings to invest Brazil-Texas Chamber of Commerce (Bratecc)
in major new projects in Brazil’s offshore zone, on the sidelines of the Offshore Technology
according to Mariano Vela, the US major’s coun- Conference (OTC) in Houston last week, Vela
try manager. said Chevron was “in the means of looking for
Speaking during a meeting of the new opportunities.”

Week 19 12•May•2022 www. NEWSBASE .com P9