Page 9 - LatAmOil Week 24 2022
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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
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