Page 8 - LatAmOil Week 12 2022

LatAmOil GUYANA LatAmOil

The find has been classified as non-commercial, of heavy crude in unrisked gross (2C) contin-
but it did serve to confirm the “extension of the gent oil resources, with 42.7mn barrels of the
Cretaceous petroleum system and the Liza play total attributable to the Kaieteur block.
fairway outboard from the prolific discoveries Equity in the Kaieteur block is currently split
on the neighbouring ExxonMobil-operated between ExxonMobil (operator), with 35%;
Stabroek block,” Westmount noted. Ratio Petroleum (Israel), with 25%; Cataleya
According to a competent person’s report Energy (Canada); with 20%; and Hess (US),
(CPR) published by Netherland, Sewell & Asso- with 20%.
ciates Inc. (NSAI) after the drilling of the well, Westmount owns about 5.3% of the issued
the best estimate for the Tanager-1 Maastrich- share capital of Cataleya and around 0.04% of
tian discovery is that it contains 65.3mn barrels Ratio. ™

GO-Invest highlights potential of

unassigned Block C, Takutu basin

THE Guyana Office for Investment (GO-Invest) and east of the Kaieteur block, it said. (Both
has published a new prospectus highlighting Canje and Kaieteur have been assigned to
some of the country’s unlicensed onshore and US-based ExxonMobil, it noted.)
offshore sites. Block C covers an area of about 9,560 square
In the document, which was drawn up in km and lies in waters ranging from 2,500 metres
advance of the bidding round that is scheduled to 4,500-5,000 metres deep, it added.
to take place in the third quarter of this year, GO-Invest also drew attention to the onshore
GO-Invest invited international oil companies Takutu basin, which was subjected to explo-
(IOCs) to take a closer look at Guyana’s unas- ration drilling in 1980, 1982, 1992 and then
signed licence areas. again in 2011. “The Takutu basin is a Mesozoic
The country still has “substantial acreage graben 280 km long and 40 km wide located
onshore and offshore [that] remains untapped,” in the south-western area of Guyana,” it said.
it noted. “The Karanambo-1 well, drilled there in 1982
One of these untapped areas lies offshore by Home Oil Co., was the best prospect drilled
and is known as Block C, the office stated. This within this basin. Located in south-western
ultra-deepwater site lies west of the maritime Guyana, a small amount of light crude was
border with Suriname, north of the Canje block accrued.”

Some oil has been found onshore Guyana in the Takutu basin (Image: Staatsolie)

P8 www. NEWSBASE .com Week 12 24•March•2022