The Government of Guyana has welcomed the start of a new drill campaign off the country’s coast at the 4,800 sq km Canje block, which got underway on December 31.
Natural Resources Minister Vickram Bharrat said exploration activity in this new area is an encouraging development, as the search for more hydrocarbon resources offshore is set to ramp up this year.
“The Ministry of Natural Resources is pleased with these reports and looks forward to further prospects of exploration and production in this area,” he said in a comment to the Department of Public Information.
The Canje Block lies 180km offshore Guyana in deep to ultra-deep water. Canje’s environment of deposition is unique among offshore Guyana blocks in that it contains both continental slope and basin floor terrain. Results from a 6,100 km2 3D seismic survey have been used to define a substantial inventory targeting three initial prospects – Bulletwood, Jabillo, and Sapote.
“The first well in the Canje block, Bulletwood-1 was spudded at the end of last month by the Stena Carron,” Janelle Persaud, ExxonMobil Guyana Public and Government Affairs Advisor told OilNOW. “We expect to be on location for several weeks.”
Experts say Bulletwood-1 could contain more than 500 million barrels of oil equivalent.
ExxonMobil is operator at the Canje Block with a 35% interest. Total holds 35%, JHI Associates, Inc. 17.5% and Mid-Atlantic Oil & Gas, Inc. 12.5%.