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Tullow set to complete GVN-1

well at Block 47 in Q2-2021

RAHUL Dhir, the CEO and executive director Nevertheless, Ratio Petroleum (Israel),
of Tullow Oil (UK/Ireland), has said his com- a non-operating partner in the project, has
pany is on track to complete work on the Goli- expressed some optimism about Tanager-1. It
athberg Voltzberg North-1 (GVN-1), which is informed Offshore Engineer earlier this year
being drilled at Block 47 offshore Suriname, in that Tanager-1 had recently been reclassified
the second quarter of the year. as a discovery. Additionally, it said Tullow was
In a conference call discussing the compa- preparing to publish an updated competent
ny’s performance in 2020, Dhir reported that person’s report (CPR) for the first exploration
Tullow was moving ahead with drilling work well and for its additional prospects at Kaieteur,
at GVN-1, which was spudded in 1,900-metre- a block that lies offshore Guyana, in mid-Febru-
deep water in late January. The well will target a ary. (As of press time, it was not clear whether
Cretaceous turbidite play that includes two pro- this milestone had been reached.)
spective intervals, and results from the drilling Equity in the Block 47 project is split between
programme should be available by mid-year, he Tullow (50%), Argentina’s Pluspetrol (30%) and
said. Ratio (20%). The licence area spans 2,350 square
His remarks were in line with Tullow’s official km and is in waters ranging from 1,300 to 3,000
statements on its 2020 results. The company said metres deep. It is believed to hold up to 927mn
earlier this week that it anticipated the drilling barrels of crude oil within its three identified
of GVN-1 would be wrapped up in the second prospects. ™
quarter of the year. It also reported that the well
was “being drilled by the Stena Forth drillship,
and a result is expected in the second quarter of
2021.”
Additionally, the company said it was
“focused on prospect maturation across the
exploration portfolio” in the Guyana-Suriname
basin.
GVN-1 is the second exploration well to
be drilled at Block 47. The first was Tanager-1,
which was completed last November. Tanager-1
did encounter hydrocarbon shows, but Tullow
indicated late last year that it would probably
classify the site as a non-commercial discov-
ery unless it could be linked to another nearby
development initiative. The GVN-1 well was spudded in late January (Image: Tullow Oil)

ARGENTINA
Auction results, production dip raise

concerns about gas supplies in Argentina

CONCERNS about natural gas supplies are had extracted 116.022mn cubic feet per day of
mounting in Argentina following reports of a gas in the first month of 2021, down by 11% year
decline in domestic production and a lacklus- on year.
tre response to the government’s supplemental The dataset showed that the national oil com-
auctions. pany (NOC) YPF accounted for more than a
Last week, Argentina’s Energy Secretariat quarter of total output, even though it saw yields
released official data showing that the country drop to 29.832mn cubic metres per day.

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