Page 10 - LatAmOil Week 08 2022

LatAmOil GUYANA LatAmOil

He was speaking just a few days after Guya-
nese Vice-President Bharrat Jagdeo reported
that this year’s budget had allocated the sum
of GYD88mn ($422,500) to cover the cost of
reviewing the final development plan (FDP) for
the Uaru project.
Routledge did not say when ExxonMobil
Guyana and its partners Hess (US) and China
National Offshore Oil Corp. (CNOOC) might
bring Uaru-2 on stream. The partners are cur-
rently focusing on launching production at
Payara, the third development project, in 2024
and are also moving into the final stages of plan-
ning for the launch of Yellowtail, the focus of the
fourth project, he noted. As such, he said, they
are still working out the “optimal sequence of
development” for Uaru-2.
“[As] soon as we finish engaging the govern-
ment on Yellowtail, we will begin talking about Uaru and Mako lie east and south-east of the Liza oilfield (Image: Hess)
Uaru,” he added.
ExxonMobil Guyana made its first discov- ExxonMobil Guyana intends to develop Uaru
ery at the Uaru oilfield in January 2020, when it together with Mako, a nearby field within the
reported that the Uaru-1 well had encountered Stabroek block. The company announced an oil
29 metres of oil shows in high-quality sandstone discovery in the Mako-1 well in December 2019,
reservoirs. The US super-major then announced saying it had encountered 50 metres of oil shows
another find in April 2021, when it reported that in high-quality sandstone reservoirs. It reported
Uaru-2, drilled at a site 11 km south of Uaru- the find just a few days after bringing Liza-1, its
1, had encountered 36.7 metres of oil shows in first development project, on stream.
high-quality sandstone reservoirs. Liza-2, the company’s second development
Some observers have suggested that project, began production earlier this month. ™

Rystad Energy, CGX exec say Kawa-1 find

has de-risked Guyana’s offshore zone

RYSTAD Energy, a Norway-based energy con-
sultancy, has hailed the discovery of commercial
crude oil reserves at Corentyne, saying that the
recent find within that licence area has helped
settle the question of whether ExxonMobil’s
Stabroek block would be the only success in
Guyana’s offshore zone.
According to Schreiner Parker, Rystad Ener-
gy’s vice-president for Latin America and the
Caribbean, the announcement by Canada’s
CGX Energy and Frontera Energy of a discov-
ery in the Kawa-1 exploration well is “absolutely
significant.”
The find is important because it demon-
strates that hydrocarbons can be found outside
Stabroek, where ExxonMobil has discovered
more than 20 fields containing at least 10bn
barrels of oil equivalent (boe) in recoverable
reserves, he explained. The second exploration well at Corentyne will be Wei-1 (Image: CGX Energy)
“I think there was a lingering question
about the commerciality of blocks outside of Conference and Exhibition (IECE) in George-
Stabroek, particularly in that south-east corner town last week. “So if this does in fact become a
of the Stabroek block,” Parker told OilNOW.gy commercial discovery, then it goes a long way in
in an interview during the International Energy de-risking the rest of the blocks.”

P10 www. NEWSBASE .com Week 08 24•February•2022