Saturday, May 21, 2022

CGX spokesperson says maritime notice inaccurate; drilling at Kawa-1 continues

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OilNOW
OilNOW is an online-based Information and Resource Centre

A spokesperson for CGX Energy says a notice published by Guyana’s Maritime Administration Department (MARAD) last week stating that demobilization of exploration drilling operations at the Corentyne Block is underway, is inaccurate, since the drill campaign at its Kawa-1 prospect is still ongoing.

Based on the MARAD notification, OilNOW reported on Sunday that demobilization activities were underway at the well site located approximately 90 nautical miles (167 kilometers) offshore Guyana covering an area of 4.7 square nautical miles (16.25 square kilometre).

But the CGX spokesperson told OilNOW on Sunday that no demobilization activities have started on the block since drilling operations continue.

“Contrary to your article of 26th December 2021, drilling activities continue on the Kawa-1 Well. There are currently no demobilization activities underway,” stated Daniel Turpin.

MARAD routinely publishes notices advising mariners of drilling operations offshore Guyana. An official familiar with the process told OilNOW these notices are usually based on information provided by the vessels and companies themselves, which are operating offshore.

The sixth-generation semi-submersible drilling rig Maersk Discoverer spudded the Kawa-1 well on August 22.

CGX said just over a week ago that the drill campaign is taking longer than originally forecast and costs are therefore projected to increase. It was originally reported to cost approximately US$80M. But the current cost estimate of the Kawa-1 well is now pegged at approximately US$115-$125 million.

Kawa-1 is targeting Campanian and Santonian stacked sandstone reservoirs, analogous to the discoveries on Block 58 in Suriname and potential deeper discoveries in the Stabroek block offshore Guyana.

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