Frontera, CGX start drilling Wei-1 well in Guyana

CGX Energy

23/01/2023 13:01

Jan 23 (Reuters) - Oil and gas producers CGX Energy Inc
 OYL.V  and Frontera Energy Corp  FEC.TO  said on Monday their
joint venture had begun drilling Wei-1 well offshore Guyana.
    The joint venture was scheduled to begin drilling last year
November, but delayed it as contractor Noble Corp  NE.N  was
tied up with obligations in Trinidad.
    Wei-1 is one of two wells on Guyana's Corentyne block that
the companies have committed to drill. The other well, Kawa-1,
struck light oil and gas condensate in May.
    Guyana and neighboring Suriname have become one of the most
desired oil exploration hot spots.
    The JV said Guyana has approved an appraisal plan for the
northern section of the Corentyne block, but future drilling
would depend on positive results from Wei-1.
    It is expected to be the next consortium to move oil
exploration projects in Guyana to the development phase, after a
group led by Exxon Mobil Corp  XOM.N  began production in 2019.
 (Reporting by Sourasis Bose in Bengaluru; Editing by Shinjini
Ganguli)
 ((Sourasis.Bose@thomsonreuters.com;))