CGX and its Joint Venture partner Frontera said in an update on Wednesday that drilling operations at the Kawa-1 prospect on the Corentyne Block offshore Guyana are proceeding on schedule and the well is progressing without a major individual setback to date.
“At this point, four of five planned casing strings have been landed and cemented in place with two contingency casing strings still available for use if required. Close to 70% of the planned footage has been drilled and the two main geological targets of the Kawa-1 well remain to be drilled, cased and evaluated with current expectations on reaching total depth consistent with the previous public disclosure of December 2021,” CGX said.
Kawa -1 Well
Kawa-1 targets are Campanian and Santonian stacked sandstone reservoirs, analogous to the discoveries on Block 58 in Suriname and potential deeper discoveries in the Stabroek block in Guyana. Since 2015, with the discoveries on the Stabroek block in Guyana and more recently with the discoveries on Block 58 in Suriname, exploration in the Guyana and Suriname basins have resulted in over 10 billion barrels of oil equivalent discovered resources to date, as has been publicly disclosed.
CGX was clear to point out that there is no certainty that any portion of the resources will be discovered and if discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
The company said block acreage reflects the proposed 25% relinquishment that has been submitted to the Government of Guyana. Final relinquishment details remain subject to government approval.
Berbice Deep Water Port on Schedule
CGX also said in the update that construction of the Berbice Deep Water Port continues to be on schedule. Active construction is ongoing on the access road (55% completed), bridge from Corentyne Highway (68% completed), rip rap flood protection (93% completed), extension of electricity infrastructure to the port site (85% completed) and quayside laydown yard (26% completed).
Work has commenced on infrastructure to deliver potable water to the port, with all permits and permissions in place. Requests for proposals have been advertised for the wharf platform and access trestle, capital dredging program, design and construction of all gates, buildings and fences, design and construction of firefighting and first aid structures and covered storage areas.
CGX said currently, evaluations of submitted proposals for the capital dredging and construction of the wharf platform and access trestle are underway. The Offshore Supply Base portion of the port is expected to be fully operational Q3, 2022, with the Multi-Purpose Terminal, servicing agricultural, general, and containerized cargos being fully operational at the end of Q4, 2023.
