Page 11 - LatAmOil Week 47 2021

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Nor did it reveal whether it had moved any is an important technical discovery.” The com-
closer toward a farm-out deal for its stake in the pany has said it wants to work with the other
Kanuku project. investors in the block to find options for devel-
Tullow’s CEO Rahul Dhir informed Reuters opment of this discovery. ™
in September of this year that his plan was to
reduce the company’s exposure to the Orinduik
and Kanuku blocks offshore Guyana so that the
firm could focus more intensely on its primary
assets.
He also stressed, however, that Tullow did
not intend to quit these two projects.
The Anglo-Irish company is currently serv-
ing as operator of Orinduik and holds a minor-
ity stake in Kanuku. Equity in the latter block is
split between Repsol (Spain), the operator, with
37.5%; Tullow, with 37.5%; and TotalEnergies
(France), with 25%.
To date, Tullow has made three discoveries at
Kanuku and Orinduik. It has found heavy sour
oil in the Joe and Jethro sections of Orinduik
and, together with Repsol, has found non-com-
mercial reserves of 27 degree API crude in the
Carapa-1 well at Kanuku.
George Cazenove, Tullow’s head of commu-
nications, has told OilNOW.gy that the Carapa
find at Kanuku is “not commercial in itself but it Non-commercial reserves have been found at Carapa (Image: Tullow Oil)

BRAZIL
Bolsonaro calls for review of Brazil’s

domestic fuel pricing mechanism

BRAZILIAN President Jair Bolsonaro said on He did not say whether there were any concrete
November 23 that his government intended to plans for conducting this review, but he alleged
review the international parity system used by that Petrobras was not sensitive to the hardships
the national oil company Petrobras to set fuel that consumers experience when prices go up.
prices. Additionally, he emphasised that his govern-
Bolsonaro said the international parity sys- ment’s ability to direct the NOC was limited. “I
tem, known locally as ICMS, deserved closer have no control over it,” he said, according to a
scrutiny in light of rising inflation rates in Brazil. report from Mercopress.

Bolsonaro (R) and Luna e Silva (L) are at odds over domestic fuel pricing (Photo: Brazilian Government)

Week 47 25•November•2021 www. NEWSBASE .com P11