A joint venture (JV) of CGX Energy and Frontera Energy Corporation (FEC) has started drilling work at the Wei-1 well, located on the Corentyne block, offshore Guyana.
The Wei-1 is one of two wells planned to be drilled by the JV on the Corentyne block. The other is the Kawa-1, where light oil and gas condensate was discovered in 2022.
The consortium is using Noble Corp’s Noble Corp Discoverer semi-submersible mobile drilling unit for the drilling work.
Located approximately 14km northwest of the JV’s Kawa-1 discovery, the Wei-1 well is planned to be drilled to a total depth of 20,500ft.
The drilling at the Wei-1 well will target Maastrichtian-, Campanian-, and Santonian-aged stacked sands within channel and fan complexes in the Corentyne block’s northern section.
In a press statement, CGX said: “Following completion of Wei-1 drilling operations and upon detailed analysis of the results, the joint venture may consider future wells per its appraisal program to evaluate possible development feasibility in the Kawa-1 discovery area and throughout the northern section of the Corentyne block.”
CGX board of directors executive co-chairman Suresh Narine said: “Wei-1 will appraise both the Kawa-1 discovery, as well as explore additional opportunities within the Corentyne block.
“The Wei-1 well is on-trend and positioned for success, with both Kawa-1 and recent peer discoveries immediately adjacent to the northern section of the Corentyne block.”
In a separate announcement, Guyana is in talks with the US, Qatar, the UAE, and India for the direct allocation of offshore oil and gas exploration blocks, reported Reuters, citing Guyana President Irfaan Ali.
The oil and gas blocks are considered for allocation alongside the country’s bidding round for 14 shallow and deepwater areas, which is scheduled for this year.
Ali was quoted by the news agency as saying at an energy conference in Trinidad and Tobago: “We have been toying with a number of options.
“We have gone out publicly with the bid round [and] there is also that room we are looking at for government-to-government collaboration.”