CGX to drill Guyana well in 2015

November 13, 2014

Canada's CGX Energy said the jackup rig slated to spud its offshore Guyana prospect is due to be completed by end of January 2015.

The Hakuryu-12 jackup drilling rig, soon to be part of Japan Drilling Co.'s fleet, is currently under construction in Singapore at PPL Shipyard. CGX plans to use the jackup to spud the Kabukalli-1 exploration well in the Corentyne Block. CGX said it plans to announce mobilization and spud timing at a later date. 

CGX Energy CEO Dewi Jones  said the Kabukalli-1 well will test the Upper Cretaceous geologic objectives to an anticipated total depth of 4502m.  Drilling operations are anticipated to last approximately 73 days.

"This drilling emphasizes CGX Energy's continued efforts in evaluating the petroleum potential of this highly prospective basin," Jones said.

CGX cites a 2013 DeGolyer and MacNaughton Report, dated March 19, 2013, that states that the Corentyne Block provides a total best estimate (P50) of prospective resources for six oil and gas prospects of 779MMbbl of oil, 743MMbbl of condensate, 6,943 Bcf of sales gas plus 696 Bcf of solution gas.

In CGX's 3Q 2014 financial statement released on 3 November, it noted that the company is actively pursuing a joint venture partner for the Corentyne Block, where it holds 100% stake. In the short term, the company will likely require additional financing, CGX stated.

In June, CGX signed an LOI with Japan Drilling Co. and Inpex subsidiary Teikoku Oil (Suriname) Co., Ltd. for use of the Hakuryu-12 jackup. CGX said it expects the jackup will be delivered to Trinidad between April and May 2015.

The Hakuryu-12 is said to share a similar design to that of Japan Drilling Co.'s Hakuryu-10 jackup, which is a Baker Marine Pacific Class 375, three-leg self-elevating cantilever type drilling rig. The Hakuryu-10 has a maximum water operating depth of 115m, a maximum drilling depth of 9000m, and accommodations for 120.

Image: Hakuryu-12 in PPL shipyard, Singapore (CNW Group/CGX Energy Inc.)



Current News

Eco Wave Power to Ring Nasdaq Bell

Eco Wave Power to Ring Nasdaq Bell

TenneT CEO Says Bringing in Private Investors Not Ruled Out

TenneT CEO Says Bringing in Private Investors Not Ruled Out

UK: ABP Gets Marine License for Lowestoft Eastern Energy Facility for Offshore Wind Support

UK: ABP Gets Marine License for Lowestoft Eastern Energy Facility for Offshore Wind Support

Kremlin: Idle Nord Stream 2 Pipeline Bad for Consumers, Economy

Kremlin: Idle Nord Stream 2 Pipeline Bad for Consumers, Economy

Subscribe for OE Digital E‑News

Offshore Engineer Magazine