Page 8 - LatAmOil Week 42 2021

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Specifically, they pointed to discoveries made
made at Block 58 offshore Suriname, located
directly to the east of Corentyne, and to poten-
tial deep-lying discoveries in Guyana’s offshore
Stabroek block, the eastern end of which lies
directly north of Corentyne.
CGX and Frontera did not say whether the
Kawa-1 well had encountered any hydrocarbon
shows yet. Instead, they stressed the uncertainty
inherent in oil and gas drilling projects, as well
as the possibility that future finds might not be
commercially viable.
Additionally, the partners reported that
they had submitted documents outlining their
proposed relinquishment of 25% of the block’s
acreage to Guyana’s government. The relin-
quishment will not proceed until Georgetown
gives the green light, they stated.
The Kawa-1 exploration well is being drilled
at a site that is around 200 km from shore and
in 355-metre-deep water. CGX and Frontera Kawa-1 is being sunk at the north end of the block (Image: CGX Energy)
had originally hoped to begin drilling in early
2020, just a few months after PGS Geophysical processing the new data until June 2020.
(Norway) finished a 582-square km 3D seismic Equity in the Corentyne project is split
survey of the northern part of Corentyne in between CGX, with 66.67%, and Frontera, with
November 2019. However, PGS did not finish 33.33%. ™

SURINAME
Head of TotalEnergies says gas

from Block 58 will not be flared

PATRICK Pouyanné, the CEO of France’s
TotalEnergies, has said that his company will not
flare any of the associated gas contained within
its oilfields offshore Suriname.
Speaking during the Energy Intelligence
Forum earlier this month, Pouyanné noted
that the oil-rich sections of Block 58, which
TotalEnergies is developing in co-operation
with US-based Apache, contained significant
volumes of associated gas. The company will
have to find a way to monetise this gas rather
than burning it off and focusing solely on oil, he
said.
“There’s no way for TotalEnergies to flare the
gas,” he said, according to a report from S&P
Global Platts. “We’ll have to find a way to val- Five commercial finds have been made at Block 58 (Image: Apache)
orise the gas.”
He indicated that the French major had not before taking a final investment decision (FID),
yet decided how to handle future gas produc- he said. But he also pointed out that locally ori-
tion but would consider arrangements similar ented projects would have to be relatively small
to those made by neighbouring Guyana, which in scale.
has struck a deal with US-based ExxonMobil “We would like to be able to launch as quickly
on using associated gas from the Liza field for as possible a first oil development in order to
domestic electricity and petrochemical pro- gain some revenues, but today the gas content
duction. The issue is an important one, since of what we discovered is quite high,” Pouyanné
TotalEnergies will have to make plans for the gas commented.

P8 www. NEWSBASE .com Week 42 21•October•2021