Page 10 - LatAmOil Week 44 2022

LatAmOil GUYANA LatAmOil

They will use $1.75bn of this sum to cover the between subsidiaries of ExxonMobil, with 45%;
costs of building the One Guyana, a floating pro- Hess, with 30%; and China National Offshore
duction, storage and off-loading (FPSO) vessel Oil Corp. (CNOOC), with 25%. The partners
with a capacity of 250,000 barrels per day (bpd) have made more than 30 discoveries at the block
of oil. since 2015. They brought their first development
The Uaru project, meanwhile, targets a project, Liza-1, on stream in late 2019 and then
resource base of about 1.319mn barrels of oil launched the second, Liza-2, in February 2022.
equivalent (boe). These resources are split The third, Payara, is due to start production in
between the Uaru, Mako and Snoek fields. late 2023, with Yellowtail following suit in 2024.
Equity in the Stabroek project is divided Uaru may then come on stream in 2026. ™

CGX forced to postpone spudding

of Wei-1 exploration well again

CANADA’S CGX Energy said on November 1 target date for spudding Wei-1 back to a range
that it had been forced once again to postpone between December 2022 and late January 2023,
the spudding of Wei-1, its second exploration assuming timely release by the rig operator, the
well at the Corentyne block offshore Guyana. statement continued. The joint venture part-
In a statement announcing the filing of ners have informed Guyanese authorities of the
its third-quarter financial statement, CGX delay, it added.
explained that the delay was beyond its control. In the meantime, CGX said it had already
The company and its partner – Frontera Energy completed preparations for Wei-1, which will be
(Canada), itself a majority shareholder in CGX drilled at a site approximately 200 km from Guy-
– had hoped to take delivery of the NobleCorp ana’s capital city of Georgetown in 1,912-metre-
Discoverer semi-submersible rig on October 22, deep water to an anticipated total depth of 6,248
but the unit remains at another location and will metres. “Wei-1 will target Maastrichtian, Cam-
not arrive on the scheduled date, it explained. panian and Santonian-aged stacked channels
“Due to unforeseen challenges to the explo- in a western channel complex in the northern
ration activities of a third-party operator, the section of the Corentyne block,” the statement
release of the NobleCorp Discoverer drilling noted.”
unit to CGX has been delayed,” it said in the The new drilling site lies about 14 km north-
statement. “This situation is beyond the reason- west of Kawa-1, the first exploration well drilled
able control of the joint venture.” at Corentyne. The joint venture confirmed the
Presumably the delayed arrival will also push discovery of light crude oil and gas condensate
back the start date of CGX’s three-month con- in Kawa-1 earlier this year. It encountered 69
tract for the rig. The company had contracted to metres of net pay in the Maastrichtian, Campa-
use the NobleCorp Discoverer for a period run- nian, Santonian and Coniacian horizons of the
ning from October 22, 2022, to January 23, 2023. well after using the NobleCorp Discoverer Rig to
CGX and Frontera have now pushed the sink Kawa-1 to a total depth of 6,577 metres. ™

CGX now expects drilling work on Wei-1 to begin in December or January (Image: CGX)

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