Page 11 - LatAmOil Week 10 2021

LatAmOil GUYANA LatAmOil

When they spudded Bulletwood-1 in January, the local subsidiary of ExxonMobil, informed
Westmount said in a separate statement that the OilNOW.gy on March 10 that the Stena Carron
well would “[target] a Liza look-alike, confined drillship was expected to spud Jabillo-1 “later
channel complex of Late Cretaceous, Campa- this week.”)
nian age.” Westmount has said that Canje may turn out
Last week, though, it noted that the partners to hold a total of 10bn barrels of oil. This would
were now looking to explore other sections of make it even larger than Stabroek, which is cur-
Canje and would sink two more exploration rently estimated to contain 9bn barrels.
wells before the end of this year. Work on the Equity in the Canje project is divided
Jabillo-1 and Sapote-1 wells is due to begin in between ExxonMobil, with 35%; Total (France),
the near future, it said. It then reported in a sep- with 35%; JHI (Canada), with 17.5%, and
arate statement dated March 9 that the Stena Mid-Atlantic Oil & Gas (Guyana), with 12.5%.
Carron was expected to start drilling Jabillo-1 JHI, which is approximately 7.7% owned by
the following day. (For her part, Janelle Persaud, Westmount, used to have a larger stake in the
the public and government affairs advisor for block. However, it reduced its equity holdings

CGX to invest $90mn in exploration

work offshore Guyana this year

CANADA’S CGX Energy is preparing to spend
about $90mn on exploration work in Guyana’s
offshore zone this year.
The company reported last week that its
exploration programme would involve the
drilling of two exploration wells at the Coren-
tyne and Demerara blocks, both located offshore
Guyana. In a statement, it said it intended to
spud the first of these two, Kawa-1, at Corentyne
in the second half of 2021. The well design has
already been finalised, it noted.
It went on to say that Kawa-1 would be sunk
to a depth of around 6,500 metres in 370-metre-
deep water. The well will target a stratigraphic
trap within the Santonian interval that is
believed to be analogous to the oil discover-
ies reported further east, in Block 58 offshore
Suriname.
The statement did not say exactly when work
might begin on the second well – Makarapan-1,
which will be sunk at the Demerara block. It did
report that Makarapan-1 would target a sand-
stone reservoir in the Aptian interval. Addi-
tionally, it said that the well would be sunk to
a depth of about 3,500 metres in 1,000-metre-
deep water.
CGX and its majority shareholder Frontera The Kawa-1 well will be drilled at Corentyne in H2-2021 (Image: Frontera)
Energy (Canada) said earlier this year that their
contractor, McDaniel & Associates Consult- of the hydrocarbons that may be found within
ants, had completed an independent prospec- the licence areas at 6.089bn barrels of oil equiv-
tive resource (IPR) study and report of the two alent mean unrisked resources and 1.09bn boe
blocks mentioned above. They said the report, mean risked resources. It based this figure on the
which evaluates all the resources of Demerara fact that it owns 73.8% of equity in CGX, which
while focusing on the Corentyne Main Area and gives it a consolidated working interest of 82.6%
the Corentyne North Area, concluded that these in Corentyne and Demerara.
two blocks contained 32 prospects, including 27 For its part, CGX has said that its share
at Corentyne and five at Demerara, as of August of amounts to 4.94bn boe in mean unrisked
31, 2020. resources and 884.11mn boe in mean risked
Frontera has put its own consolidated share resources. ™

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