Page 10 - LatAmOil Week 38 2021

LatAmOil GUYANA LatAmOil

He was speaking on the same day that Tullow
issued an interim report on its performance in
the first half of 2021.
In the report, the company stated that it
was trying to “focus on unlocking value from
the substantial prospective resource base in
the emerging basins of Guyana and Argentina,
while seeking to mitigate capital exposure from
historical work commitments of circa $50mn in
2022, through farm-downs.”
It also said it was gearing up to drill another
exploration well in the Beebei-Potaro section
of Kanuku, another block in Guyana’s offshore
zone, in the near future. This well will target the
Cretaceous layer, it noted.
To date, Tullow has made three discoveries at
Kanuku and Orinduik. It has found heavy sour
oil in the Joe and Jethro sections of Orinduik and
found non-commercial reserves of 27 degree
API crude in the Carapa-1 well at Kanuku.
George Cazenove, Tullow’s head of commu-
nications, has told OilNOW.gy that the Carapa
find at Kanuku is “not commercial in itself but it
is an important technical discovery.” The Anglo- Orinduik and Kanuku are south of Stabroek (Image: Tullow Oil)
Irish firm has a 37.5% stake in Kanuku, and its
partners are Repsol (Spain), the operator, and to finish prospecting at the block. Equity in the
TotalEnergies (France), with 25%. Orinduik project is split 60% to Tullow, 25% to
The Anglo-Irish company secured an exten- the TOQAP joint venture set up by TotalEn-
sion of its exploration licence for Orinduik ear- ergies and Qatar Petroleum and 15% to Eco
lier this year and now has until January 13, 2023 (Atlantic) Oil & Gas (Canada). ™

Guyana grants crude sales

contract to Aramco subsidiary

THE government of Guyana has awarded a
unit of Saudi Aramco, the national oil company
(NOC) of Saudi Arabia, a contract to market
its share of the crude produced in the country.
Guyanese Vice-President Bharrat Jagdeo told
Reuters last week that the new contract would
last for one year.
Georgetown awarded a contract to Aramco
earlier this month to market a cargo that was
scheduled for September 21-22, the news agency
added. At the time, Guyana’s Natural Resources
Minister Vickram Bharrat said that the term of
the deal was likely to be one year.
As Guyana’s marketing agent, Aramco will be
responsible for lifting around five cargoes of oil
during the 12-month term of its contract. Each
of the cargoes will consist of around 1mn barrels Loading of Guyana’s first oil export cargo in 2019 (Image: Government of Guyana)
of crude.
Aramco is one of 35 companies that sub- and Mercuria, the US-based trader Glencore
mitted expressions of interest (EoIs) in the oil and Netherlands-based Vitol.
marketing contract to Guyana’s Department of The Saudi company will be handling George-
Energy earlier this year. BP (UK) and ExxonMo- town’s share of production from Liza-1, an oil-
bil (US) were among the applicants, as were the field within the offshore Stabroek block that
Swiss-based commodities trading firms Gunvor began production in December 2019.

P10 www. NEWSBASE .com Week 38 23•September•2021