22 C
Georgetown
Wednesday, January 20, 2021

Tullow Oil talks up local content with Guyana business group

Must Read

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on...

Norway issues 61 new licences for oil and gas exploration activities

Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development...
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.

A team of officials from Tullow Oil, led by CEO Paul McDade, met with members of the Georgetown Chamber of Commerce and Industry (GCCI) on Wednesday in Guyana’s capital, Georgetown, for wide-ranging discussions ahead of the company’s 3-well drill campaign offshore the South American country.

The almost 2-hour long discussions focused on the company’s corporate policies, with emphasis on its commitment to local content development and long-term approach should its drill campaign in Guyana be successful.

“I thought it was a very excellent informative meeting that really give us an insight into the corporate policies and what Tullow Oil is really about and what has made them into a good corporate citizen,” GCCI’s Senior Vice President, Timothy Tucker, told OilNOW.

McDade said once a discovery is made in the South American country, Tullow Oil will ensure its procurement needs are clearly laid out so that Guyanese businesses will be aware of what opportunities exist.

This, Tucker said, is a welcomed approach since it would allow local businesses to better position themselves to benefit from opportunities and provides confidence for a healthy working relationship with the oil company, going forward.

“They have given an indication that they want to be part of the Chamber and that they are willing to review the procurement of their contracts once oil is discovered to favour more local content,” Tucker, who chaired the interactive session, stated.

Tullow plans to drill two wildcat wells on the Orinduik licence from June 2019 onwards using the Stena Forth drillship. The first well will target the Jethro prospect which is a Lower Tertiary target in approximately 1,350 metres of water. The second well will be the Joe prospect, an Upper Tertiary target in water depths of approximately 650 metres. Both wells are targeting prospects of 100 to 200 million barrels of oil. The Carapa-1 well on the non-operated Kanuku block is expected to be drilled in the third quarter of 2019. The Carapa prospect is a 200 million barrel Cretaceous target located in 70 metres of water and will be drilled using a jack-up rig. Preparations for this well are ongoing.

1 COMMENT

  1. This a new frontier for the people of Guyana trust that all involved would appreciate the country’s history and work towards the development of the people and by extension the nation as a whole

Comments are closed.

Latest News

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on...

Norway issues 61 new licences for oil and gas exploration activities

Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and...

Groups plan to press Biden to reverse ban on Venezuela fuel swaps

(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming...

Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting...

More Articles Like This