Guyana, Suriname eye further drilling from oil majors after discoveries

CGX Energy

18/08/2021 20:51

By Luc Cohen
    Aug 18 (Reuters) - Guyana and Suriname expect continued
exploratory drilling over the next two years by oil majors in
their joint offshore basin after a string of recent discoveries,
government officials and corporate executives said at a
conference on Wednesday.
    The neighboring South American countries, along with Brazil,
attracted the most attendees to sessions at the Offshore
Technology Conference in Houston this week, outshining
discussions of the U.S. and Mexican sides of the Gulf of Mexico.
    In Guyana, where a group led by Exxon Mobil Corp  XOM.N  has
discovered more than 9 billion barrels of oil and gas, an
executive from Spain's Repsol SA  REP.MC  said the company
planned to drill offshore next year, despite two previous dry
wells. 
    "I do hope that in 2022 we will have a major discovery in
the Kanuku block because that will be to the benefit of Guyana
too," the country's Natural Resources minister, Vickram Bharrat,
 said.
    France's TotalEnergies  TTEF.PA , a partner in three blocks
in Guyana, expects to begin drilling another exploration well
this year, said Jean-Michel Lavergne, who leads the company's
Americas exploration and production unit. Toronto-based CGX
Energy Inc  OYL.V  will drill in the Corentyne block, Bharrat
said.  urn:newsml:reuters.com:*:nN9N26I008
    Not counting future potential discoveries, Guyana expects
output from the Stabroek block - which Exxon operates with Hess
Corp  HES.N  and China's CNOOC Ltd  0883.HK  - to reach nearly 1
million barrels per day (bpd) by 2025 or 2026, Bharrat said, up
from 125,000 bpd today. 
    Suriname aims to complete negotiations with TotalEnergies,
Qatar Petroleum  QATPE.UL  and Chevron Corp  CVX.N  - which were
awarded three shallow water blocks in June - this quarter, said
Patrick Brunings, exploration manager of state oil company
Staatsolie.  urn:newsml:reuters.com:*:nN9N26I007
    Five other blocks are available and Staatsolie is evaluating
next steps, he said. Staatsolie hopes to operate in future
partnerships.
    "We have engaged all the companies involved in the bid round
to see if there is further interest for the remaining blocks,"
Brunings said.     

 (Reporting by Luc Cohen in New York
Additional reporting by Marianna Parraga in Houston
Editing by Matthew Lewis)
 ((luc.cohen@thomsonreuters.com; +58 424 133 7696; Reuters
Messaging: Twitter: @cohenluc))