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Work on the new well is slated to continue for
almost two months, until July 15, it said.
The Spanish company has contracted the
Noble Regina Allen, a jack-up rig owned by
UK-based Noble Corp., to sink the well. Its
non-operating partner Tullow Oil (UK/Ireland)
has said that Beebei-Potaro-1 will target the Cre-
taceous horizon, where ExxonMobil (US) has
made most of its discoveries at the neighbour-
ing Stabroek block, in the hope of finding light
crude oil there.
Tullow said last year that Beebei-Potaro
might contain as much as 200mn barrels of oil
equivalent (boe).
Equity in the Kanuku project is split between
Repsol (Spain), the operator, with 37.5%;
Tullow, with 37.5%; and TotalEnergies (France),
with 25%. Tullow has talked about farming out
part of its stake in the block in order to reduce its
risk profile and concentrate more intently on its Repsol has already drilled six exploration wells at Kanuku to date (Image: Repsol)
primary assets. It has not yet named any poten-
tial buyers, though it has stressed that it does not Carapa-1 well.
intend to exit the project. George Cazenove, Tullow’s head of commu-
To date, Repsol has drilled six exploration nications, has told OilNOW.gy that the Carapa
wells at Kanuku (Carapa-1, Jaguar-1, Berbice -2, find at Kanuku is “not commercial in itself but it
Abary-1 and Mahaica-1 and -2) and has made is an important technical discovery.” The Anglo-
only one discovery. That discovery consisted Irish company has said it wants to work with the
of non-commercial reserves of heavy crude other investors in the block to find options for
with a specific gravity of 27-degree API in the development of this discovery. ™

BRAZIL
Bolsonaro fires yet another Petrobras CEO

BRAZIL’S national oil company (NOC) Petro-
bras is facing yet another personnel re-shuffle,
as the country’s president has fired CEO José
Mauro Ferreira Coelho and nominated Caio
Mario Paes de Andrade, a senior official from
the Economy Ministry, as his replacement.
Brazil’s Ministry of Mines and Energy
announced Coelho’s dismissal and named Paes
de Andrade as the president’s next choice for the
position of CEO on May 23.
It did not say when the Economy Ministry
official might take office.
Petrobras’ corporate rules stipulate that only
board members may serve as CEO, so Paes de
Andrade must first become a member of the
NOC’s board of directors. Meanwhile, Petro-
bras said in a statement that Coelho’s departure
would also “imply the dismissal” of all the other
board members who had joined him when he
took the post on April 13, meaning that elections
will also have to be held to fill the remaining
positions on the board. Paes de Andrade (R), shown in December 2021 (Photo: Twitter/@CaioPAndrade)
Neither Bolsonaro nor Petrobras have com-
mented on the reasons for Coelho’s dismissal, dismissal that the country was “experiencing
and Coelho himself has not spoken publicly on a challenging moment due to the effects of the
the matter. (The Ministry of Mines and Energy, extreme volatility of hydrocarbons in interna-
for its part, said when announcing Coelho’s tional markets.”).

Week 21 26•May•2022 www. NEWSBASE .com P11