Page 8 - LatAmOil Week 04 2023

LatAmOil COLOMBIA LatAmOil

Velez (second from left) spoke at Davos on January 22 (Photo: Twitter/@IreneVelezT)

Additionally, the Colombian president urged Neither Petro nor Velez commented on
other countries to work on eliminating fossil Colombia’s Finance Minister Jose Antonio
fuels to stave off an environmental crisis, saying Ocampo’s recent suggestion that the govern-
that the world would benefit from “decarbon- ment might have to continue awarding new oil
ised capitalism.” and gas exploration contracts. Ocampo had said
The global community ought to strive last autumn that this move might be necessary
towards a climate agreement in order “to reduce in order to shore up public finances, given the
the consumption of coal, oil and gas to zero in government’s long-standing dependence on oil,
the short term,” he declared. gas and coal revenues. ™

GUYANA
Wei-1 well spudded at Corentyne block

CANADA’S CGX Energy announced on Jan-
uary 23 that it had spudded Wei-1, the second
exploration well at the Corentyne block offshore
Guyana.
In a statement, the company said the well
was being drilled at a site 14 km north-west of
Kawa-1, its first exploration well at Corentyne,
in 1,912-metre-deep water. Wei-1 will be sunk
to a depth of about 6,248 metres and will target
the “Maastrichtian, Campanian and Santonian
aged stacked sands within channel and fan com-
plexes in the northern section of the Corentyne
block,” it said.
Drilling operations will be completed in four
to five months, the company noted.
CGX further indicated that the start of drill-
ing operations at Wei-1 marked the launch of its Wei-1 is being drilled 14 km north-west of the Kawa-1 well (Image: CGX Energy)
appraisal plan for the northern section of Cor-
entyne. The government of Guyana has already elsewhere in the northern part of the block, it
given its approval to this programme, which will said.
use a detailed analysis of drilling data from the Any future drilling is contingent on positive
new well to determine the feasibility of commer- results at Wei-1, and the joint venture has no
cial development in the vicinity of Kawa-1, the further drilling obligations beyond the Wei-1
first exploration well drilled at Corentyne, and well,” it added.

P8 www. NEWSBASE .com Week 04 25•January•2023