Page 10 - LatAmOil Week 21 2021
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Hess increases stake in
Guyana’s Kaieteur block
INVESTMENT US independent Hess has increased its stake in than that from the producing Liza field.
the Kaieteur block offshore Guyana from 15% The Tanager-1 discovery is considered to be
to 20%, according to Westmount Energy, a non-commercial as a standalone development,
shareholder in Cataleya Energy, which farmed but the block is thought to hold more oil poten-
down the 5% stake to Hess for an undisclosed tial, which the partners wish to assess further.
sum. Indeed, Tanager-1 also encountered “high-qual-
Following the farm-down, Cataleya holds ity” reservoirs at the deeper Santonian and
20% in the Kaieteur joint venture, while Ratio Turonian intervals, though further analysis of
Petroleum Energy Limited Partnership owns these is required. Additionally, the partners are
25% and ExxonMobil subsidiary Esso Explora- in the process of high-grading the next poten-
tion and Production Guyana operates the block tial drilling targets in the southern part of the
with a 35% stake. block, where a 5,750-square km 3D seismic sur-
The farm-down follows the Tanager-1 oil vey mapped a “substantial” Cretaceous prospect
discovery, announced in November 2020. Tan- inventory.
ager-1 was the first well drilled on the Kaieteur Tanager-1 is one of numerous discoveries in
block, encountering 16 metres of net oil pay in the region, which has become a bright spot for
Maastrichtian reservoirs. It was also the deepest offshore exploration at a time when many pro-
well to be drilled in the Guyana-Suriname Basin ducers have put the brakes on new investment.
as of that point, reaching a total depth of 7,633 The most prolific discoveries to date are located
metres. The find confirmed the extension of the in the Stabroek block, where ExxonMobil and
Cretaceous petroleum system and the Liza play Hess are also partners. However, the update on
fairway from the discoveries on the neighbour- the Kaieteur block shows that efforts to extend
ing Stabroek block, which is also operated by exploration – and potentially production –
ExxonMobil. The oil was thought to be heavier beyond Stabroek continue.
BRAZIL
Enbridge-led consortium reportedly
bids for Brazilian pipeline
PIPELINES & A consortium led by Canada’s Enbridge has consortium is preparing to submit a binding offer
TRANSPORT reportedly submitted a bid for Brazil’s largest by July 5. The pipeline stakes are anticipated to
natural gas import pipeline. Citing three sources fetch billions of dollars, but it is not clear if any
familiar with the matter, Reuters reported last competing bids have been put forward.
week that the non-binding offer had been put in Enbridge has said in a statement that it does
by a group of companies that also includes Bel- not “respond to market speculation or rumours”,
gium’s Fluxys and US-based private equity firm but if a sale is finalised, this would be its first
EIG Global Energy Partners. foray into South America.
This comes after state-owned Petrobras put TBG, which is formally known as Transpor-
its stakes in the 2,593-km TBG pipeline – which tadora Brasileira Gasoduto Bolivia-Brasil, man-
imports gas from Bolivia – as well as the 50-km ages the Brazilian side of the Gasbol pipeline.
TSB pipeline up for sale in December 2020. TSB, which is formally known as Transporta-
Non-binding offers had been due by late April. dora Sulbrasileira de Gas, manages two pipelines
The Brazilian company is selling off non- in Rio Grande do Sul, close to the border with
core assets in a bid to liberalise the country’s Argentina.
gas industry, reduce its debt load and sharpen Bolivian gas has been facing rising competi-
its focus on deepwater oil production. It has tion from LNG imports to Brazil, especially in
already sold its stakes in the TAG and NTS gas recent years as private companies have entered
pipelines to consortia led by France’s Engie and the country’s LNG market. Brazil also pro-
Canada-based Brookfield Asset Management duces large volumes of associated gas from its
respectively. oilfields, some of which is reinjected to boost
According to Reuters’ sources, the Enbridge-led output, or flared.
P10 www. NEWSBASE .com Week 21 27•May•2021
