Page 9 - LatAmOil Week 19 2022
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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.”



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