Page 12 - LatAmOil Week 50 2020

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Block 10 is in the Sureste basin (Image: Eni)

Eni is serving as operator of the Block 10 joint 2006, is currently producing approximately
venture with a 65% stake. The remaining equity 15,000 barrels of oil equivalent per day from
is split between Russia’s Lukoil, with 20%, and Area 1 of Block 10. It expects output to reach a
Capricorn Energy, a subsidiary of Britain’s Cairn peak of 100,000 boepd in the first half of 2021.
Energy, with 15%. According to data from the Energy Secretar-
The partners have said they believe that Saas- iat (SENER), the Italian firm extracted 16,802
kem may contain 200-300mn barrels of oil in barrels per day (bpd) of crude oil and 17.6mn
place (OIP). cubic feet (498,400 cubic metres) of natural gas
Eni, which has been present in Mexico since per day from its Mexican fields in October. ™

GUYANA
Guyanese business associations call for

maximising local content

TWO private business associations in Guyana mega-projects that are expected in the coming
have said they hope the international oil com- years.”
panies (IOCs) that are working to explore and GMSA and PSC did not propose any specific
develop hydrocarbon deposits in the offshore measures with respect to local content. They
zone will hire local firms as often as possible. did state, though, that they “[looked] forward
In a statement, the Guyana Manufacturing to working closely with government to urgently
and Services Association (GMSA) and the Pri- put in place the framework and enabling envi-
vate Sector Commission (PSC) said they were ronment to facilitate this.”
looking forward to seeing “local businesses
given opportunities to participate in the oil
and gas value chain, considering that the sector
is poised for significant growth in the coming
years.” They also argued, though, that steps
would have to be taken to maximise the amount
of local content in projects led by IOCs.
“Key to this will be meaningful local content
[rules] and greater transparency in procurement
opportunities through unbundling and moving
away from sole sourcing so that local businesses
can be part of the value chain, either directly or
through partnerships and joint ventures,” the
statement said. “This is especially the case for Liza-1 is Guyana’s only producing oilfield (Image: Hess)

P12 www. NEWSBASE .com Week 50 17•December•2020