Page 9 - LatAmOil Week 24 2022

LatAmOil GUYANA LatAmOil

Also in 2009, IADB said, Guyana established
its integrated LCDS 2030, which is designed to
prevent deforestation, address climate change
and identify investments in high-potential
low-carbon sectors. All of these endeavours are
designed to contribute to the country’s planned
sustainable growth, it noted.
Overall, the bank believes that the LCDS
2030 will accelerate Guyana’s journey to achiev-
ing a greener economy. This is especially true
because the government is expected to use rev-
enues from oil sales to help fund natural and
associated gas-based energy projects, along with
renewable hydropower, solar energy and wind
energy projects, it said.
Aside from LCDS 2030, the Guyanese gov-
ernment is seeking to diversify its energy mix
even further by financing projects that support
the development of solar photovoltaic (PV) sys- Oil income will fund gas and green energy projects (Image: LCDS.goc.gy)
tems in government buildings as well as small-
scale solar farms, micro-solar grid systems that however. The national power provider, Guyana
will provide power in isolated rural areas and Power and Light (GPL), has opened its trans-
mini-hydroelectric power plants (HPPs). mission grid to independent power producers
The government is not alone in this pursuit, (IPPs) in an effort to diversify. ™

SURINAME
APA finds water in Rasper wildcat well

HOUSTON-BASED APA Corp. said on June 13
that it had finished drilling the Rasper explora-
tion well at Block 53 offshore Suriname without
finding any hydrocarbons.
In a statement, APA explained that the
Rasper wildcat well had encountered only
water-bearing reservoirs in the targeted Cam-
panian and Santonian horizons.
It noted that evaluation of open-hole well
logging data, along with formation and reser-
voir fluid samples, was ongoing but indicated
that it had not found any crude oil or natural gas
at the site.
News of the disappointment at Rasper caused
APA’s stock prices to sink by more than 4% in
pre-market trading on June 13, Reuters noted.
The company used the Noble Gerry de Souza
drillship to sink the well in the north-western
corner of Block 53. It is now planning to mobi- The Baja well will be drilled in the south-west corner of Block 53 (Image: APA)
lise the drillship to its next exploration drilling
site, Baja, which will target the Maastrichtian potential of that section of Suriname’s offshore
and Campanian horizons. Baja will be drilled in zone.
the south-western corner of the block, approx- “While the Rasper [well] was unsuccessful,
imately 11 km north-east of the Krabdagu dis- it was a large step out,” said Hanold. “We think
covery at Block 58, where APA is working in a the more impactful news will be the results from
50:50 joint venture with operator TotalEnergies the Krabdagu flow test that should include a
(France). resource assessment.”
Scott Hanold, an analyst for RBC Capital Block 53 lies directly east of Block 58 and
Markets, told Reuters on June 13 that he believed covers an area of 867,000 acres (3,510 square
exploration drilling at the Baja and Rasper loca- km). Equity in the project is split 45% to APA,
tions, taken together with results from the Krab- the operator; 30% to Petronas of Malaysia and
dagu well at Block 58, would help APA assess the 25% to CEPSA of Spain. ™

Week 24 16•June•2022 www. NEWSBASE .com P9