Monday, September 25, 2023

Orinduik explorers just months away from selecting new ‘light oil’ drill targets

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Following the completion of desktop work to reprocess seismic data, explorers at Guyana’s Orinduik Block will move to identify new targets for drilling in 2022.

“The joint venture partners of the Orinduik Block offshore Guyana utilized the past 18 months in the slowdown in economic and exploration activity to do a thorough science and study on the Orinduik Block,” disclosed Gil Holzman, Chief Executive Officer (CEO) of Eco Atlantic Oil and Gas Ltd., which has a 15% Working Interest in the acreage.

He said operator Tullow Oil did ‘remarkable work’ analysing the Jethro and Joe tertiary discoveries made in 2019 and tying up additional light oil discoveries from the Stabroek Block and the Carapa well drilled updip from Orinduik on the Kanuku licence.

The Carapa-1 well was drilled to a total depth of 3,290 metres in 68 metres of water. The partners said at the time that while net pay was lower than pre-drill forecasts, the 27-degree API oil supports the significant potential of the Cretaceous play on both the Kanuku and adjacent Orinduik licences.

Carapa is ‘important technical discovery’ – Tullow Oil

“We are right at the time [where this] entire reprocessing of the dataset and the alignment of the additional discoveries and regional discoveries [will be factored] into our models, mapping the trenches, mapping the terraces and the channels,” he said. “This has brought us to a place now where we are actually two or three months away from being able to select the drilling prospects for the next campaign.”

He said this process should be completed by early September and the partners will be in a position to announce their drilling targets of “light oil in Cretaceous on trend with the Liza discoveries, the Carapa discovery and to announce our drilling programme for next year.”

Earlier this year, it was announced that the partners successfully entered into the First Renewal Period of the Orinduik Petroleum Prospecting Licence initially signed on January 14, 2016, with the Government of Guyana.

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