CGX Energy and Frontera said Monday they'd focus on their Corentyne block in Guyana in 2022 fully, and not engage in drilling activities on the Demerara block at all.
The partners said their decision was based on the positive results from the Kawa-1 offshore well, and the significant exploration opportunities in the Corentyne block.
"The Joint Venture is currently engaged in discussions with the Government of Guyana regarding the Demerara block and will provide an update on such discussions as soon as a conclusion has been reached," CGX and Frontera said.
Drilled using the Maersk Discoverer semi-submersible drilling rig, Kawa-1 early-stage Wireline Logging results confirm the Logging While Drilling (LWD) indications previously disclosed on January 31, 2022, with a total of 200 feet of net pay encountered at multiple depths.
"Further analyses of logs and samples are ongoing. The Joint Venture will provide an update when these activities are complete," the JV said.
The Kawa-1 well, named after the iconic mountain overlooking the village of Paramakatoi in the Pakaraima Mountains of Guyana, is located in the northeast quadrant of the Corentyne block, approximately 200 kilometers offshore from Georgetown. The water depth is approximately 355 meters (1174 ft) and the expected total depth of the Kawa-1 well is 6,685 meters (21,932 ft).
The companies have previously said that the stacked targets in Kawa-1 were considered analogous to the discoveries immediately adjacent to the Corentyne Block, in Block 58 in Suriname, operated by TotalEnergies.
Elsewhere in Guyana, ExxonMobil last week started production from its second FPSO in the Stabroek Block, the Liza Unity.Read More.
Credit: CGX (File Image)
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