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However, they are now shifting their efforts to
Corentyne – and particularly to the north end of
the block, which is home to both Kawa-1 and the
next drilling target, Wei-1. CGX and Frontera
are optimistic about the hydrocarbon potential
of this section of their licence area, especially
now that early-stage wireline logging results
from Kawa-1 confirm the logging-while-drill-
ing (LWD) indications of 200 feet (61 metres) of
net pay within the well.
“Further analyses of logs and samples [from
Kawa-1] are ongoing,” the partners added. “The
joint venture will provide an update when these
activities are complete.”
CGX and Frontera went on to say that they
were currently holding discussions with the
government of Guyana on their next steps at the
Demerara block and would reveal more infor-
mation once the parties reached a conclusion.
They did not say when these talks might be The partners are focusing on the northern part of Corentyne (Image: CGX Energy)
concluded.
Frontera spudded Kawa-1 in 355-metre- statement from Frontera.
deep water on August 22, 2021 and drilled it to Equity in the Corentyne project is split
a depth of 6,578 metres. The well was targeting 66.67% to CGX and 33.33% to Frontera, which
the “easternmost Campanian and Santonian is also the majority shareholder is the former
channel/lobe complex on the northern section company. The partners have also split equity in
of the Corentyne block,” according to a previous the Demerara block along the same lines. ™

BRAZIL
Petrobras reiterates commitment to

liberalisation of domestic gas market

BRAZIL’S national oil company (NOC) Petro-
bras has reiterated its commitment to fostering
competition in the natural gas sector, even as it
remains the country’s leading supplier of gas.
Álvaro Tupiassú, a Petrobras executive
responsible for gas commercialisation, said in a
speech at the 2nd Brazil Gas Summit on Febru-
ary 15 that the NOC saw the passage and adop-
tion of the legislation now known as the New
Gas Law last year as important for the country.
These reforms will make Brazil’s gas markets
more open and competitive and put new agents
and contracts in place, Argus Media quoted him
as saying. Brazil imports some natural gas via pipeline from Bolivia (Image: Petrobras)
He also stressed that Petrobras was deter-
mined to see that Brazil’s domestic gas sector have signed contracts with distributors and free
remained both structured and competitive in consumers, and the number of suppliers is antic-
the years to come. ipated to rise in the future, he reported.
This process has been challenging, as the Despite this projected increase, he added,
adoption of a new legal regime has coincided Petrobras expects Brazil to remain a net
with difficult conditions on world gas markets, importer of natural gas for the next 10 years.
he commented. Official data from Brazil’s Ministry of Mines
Even so, he said, Petrobras no longer has a and Energy cited by Argus Media show that the
monopoly on gas inside Brazil. There are nine country’s gas demand averaged 93mn cubic
other suppliers operating inside the country that metres per day in the first 11 months of 2021.

Week 07 17•February•2022 www. NEWSBASE .com P9