Page 9 - LatAmOil Week 48 2022
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LatAmOil                                         GUYANA                                            LatAmOil



                         “Fangtooth-1 is significant since it has the poten-  to boost the recoverable reserve estimate for
                         tial to support a future FPSO,” he stated. “So we   the Stabroek block far above its current level of
                         are finding large sand channels on seismic and a   more than 11bn barrels of oil equivalent (boe),
                         lot of exploration and appraisal ... Over the next   he added.
                         18 months, [we are] going to try to drill the opti-  He did not put forward any specific figures
                         mal prospects at 18,000 feet.”       but suggested that investors could expect a
                           These drilling projects have the potential   “major upgrade” to the figure. ™



       CGX and Frontera reiterate



       commitment to drilling Wei-1






                         CGX Energy and its parent company Frontera   with this decision, adding that the two Cana-
                         Energy have confirmed that they intend to move   dian companies appreciated “the collaborative
                         forward with the drilling of Wei-1, their second   approach taken by the Government in its stew-
                         exploration well at the Corentyne block offshore   ardship of the Guyana basin’s development.”
                         Guyana.                                He continued: “The joint venture has been
                           In a statement dated November 28, the two   in regular communication with NobleCorp,
                         Canadian firms reported that they had wrapped   the third-party operator, and the government
                         up all preparations in advance of beginning   of Guyana regarding the timing of spudding
                         work at the drilling site, which lies about 14   the Wei-1 well. Given the delays in arrival of
                         km north-west of Kawa-1, the first well sunk at   the NobleCorp Discoverer to the Wei-1 drill-
                         Corentyne. CGX and Frontera will drill Wei-1   ing location, the joint venture has, with support
                         in 583-metre-deep water at a location approx-  from the government of Guyana, revised its
                         imately 200 km off the coast of Georgetown,   anticipated spud window for the Wei-1 well to
                         Guyana’s capital city, the statement said.  January 2023. The joint venture looks forward to
                           The joint venture partners plan to use the   building on the light oil and condensate discov-
                         NobleCorp Discoverer, a semi-submersible   ery at Kawa-1 with the spudding of the Wei-1
                         mobile drilling unit, to sink the well to an antic-  well in the northern section of the Corentyne
                         ipated total depth (TD) of 6,248 metres. This   block offshore Guyana.”
                         will allow them to assess the potential of stacked   CGX and Frontera confirmed the discov-
                         channels in the Maastrichtian, Campanian and   ery of light crude oil and gas condensate in the
                         Santonian intervals within a western channel   Kawa-1 well earlier this year. The joint venture
                         complex that lies in the block’s northern section.  partners encountered 69 metres of net pay in
                           According to the statement, CGX and Fron-  the Maastrichtian, Campanian, Santonian and
                         tera have agreed with the Guyanese government   Coniacian horizons of the well, which was also
                         that Wei-1 will be spudded no later than January   drilled with the NobleCorp Discoverer. ™
                         31, 2023. This deadline will allow the NobleCorp
                         Discoverer to complete its current contract in
                         Trinidad and Tobago, the partners explained.
                           The Canadian companies had previously
                         hoped to spud the second exploration well
                         at Corentyne in late October, but CGX noti-
                         fied shareholders of a delay on November
                         1, in a statement announcing the filing of its
                         third-quarter financial statement. “Due to
                         unforeseen challenges to the exploration activ-
                         ities of a third-party operator, the release of the
                         NobleCorp Discoverer drilling unit to CGX has
                         been delayed,” it said at the time. “This situation
                         is beyond the reasonable control of the joint
                         venture.”
                           Officials in Georgetown accepted CGX and
                         Frontera’s explanation for the delay and have
                         extended the deadline for spudding the second
                         of two exploration wells at Corentyne beyond
                         the original due date of November 27, 2022.
                         Suresh Narine, the executive co-chairman of
                         CGX’s board of directors, said he was satisfied   Wei-1 will be drilled about 14 km north-west of Kawa-1 (Image:



       Week 48   30•November•2022               www. NEWSBASE .com                                              P9
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