22 C
Georgetown
Tuesday, March 2, 2021

Ratio to announce start of 3D seismic work in Kaieteur Block

Must Read

Suriname looking to follow Guyana in major oil production ramp up, no plans to delay

Suriname is forging ahead with its offshore oil and gas exploration activities and is targeting 2025 for first oil...

Concerned about ‘oil leaving underground’ Colombia looking to boost pace of investments

Colombia, which holds regular licensing rounds to invite investment in its upstream sector, has recently undertaken what National Hydrocarbons...

Guyana, Permian capital-intensive projects put Exxon at higher revenue risk than peers – Rystad Energy

Norway-based Rystad Energy has quantified the long-term risk of the change to oil prices and to the net present...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Israeli-based Ratio Guyana Limited will soon announce commencement of 3D seismic work with its joint venture partner Esso Exploration and Production Guyana Limited (EEPGL), a subsidiary of US oil exploration giant ExxonMobil, in the Kaieteur Block, offshore Guyana.

OilNOW understands that the announcement, to be made under the requirement of Israeli Stock Market rules, can come as early as May 8, 2017.

The seismic survey is expected to last approximately four months and will cover an area of 5,700 square kilometres. Processing of the data will be executed during and after the 3D seismic survey and it is expected that the processed data-sets will be interpreted and assessed.

Ratio Guyana Limited has a 25 percent stake in the Kaieteur Block. Ratio Energy Limited has another 25 percent of the Kaieteur Block while EEPGL has a stake of 50 percent.

EEPGL together with joint venture partners Hess and Nexen, has already drilled a number of wells in the Stabroek Block – the latest being the Snoek well which yielded positive results. Drilling now moves on to the Liza 4 well in the Stabroek Block.

EEPGL and its partners expect to commence petroleum production within the Stabroek Block in 2020.

Latest News

Suriname looking to follow Guyana in major oil production ramp up, no plans to delay

Suriname is forging ahead with its offshore oil and gas exploration activities and is targeting 2025 for first oil...

Guyana, Permian capital-intensive projects put Exxon at higher revenue risk than peers – Rystad Energy

Norway-based Rystad Energy has quantified the long-term risk of the change to oil prices and to the net present value (NPV) of portfolios for...

Concerned about ‘oil leaving underground’ Colombia looking to boost pace of investments

Colombia, which holds regular licensing rounds to invite investment in its upstream sector, has recently undertaken what National Hydrocarbons Agency President Jose Armando Zamora...

South American basin with abundant oil resources giving rise to fierce competition

Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname...

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session's losses...

More Articles Like This