Frontera, CGX hope to see first oil in Guyana by 2030 -executives

CGX Energy

11/12/2023 15:57

HOUSTON, Dec 11 (Reuters) - Executives from Frontera
Energy  FEC.TO  and CGX Energy  OYL.V  said on Monday they
expect to make a final investment decision by 2026 on developing
a promising Guyana offshore block with first output potentially
by 2030.
    The Frontera-CGX joint venture could become the next oil
group to advance an oil exploration project in Guyana after an
Exxon Mobil-led  XOM.N  group. That group began output in 2019
and was recently pumping nearly 400,000 barrels per day.
    The timeline for the Corentyne block development was
disclosed during a presentation to investors, after analyzing
data from a second exploration well, Wei-1, where the companies
identified medium sweet oil.

 (Reporting by Marianna Parraga)
 ((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters
Messaging: @mariannaparraga))