CGX wraps up seismic survey over Guyana block

Seismic services provider PGS has completed a 3D seismic program on the northern section of the CGX Energy-operated Corentyne block offshore Guyana.

CGX is the operator of the Corentyne Block under a joint operating agreement with Frontera Energy. CGX has a 66.667% participating interest in the block, with Frontera holding the remaining 33.333% interest in the block.

CGX hired PGS for the Corentyne survey back in September 2019 and the survey was expected to start in October and end in November of the same year.

In an update earlier this week, Frontera said that the 3D seismic program on the northern section of the Corentyne block was completed during the fourth quarter of 2019.

The 3D program, which is expected to be processed during the first half of 2020, covers approximately 582 km2 and will greatly enhance the geological understanding of the block and allow for further identification and de-risking of exploration prospects, Frontera said.

The Corentyne block lies adjacent to Block 58 in Suriname where operator Apache Corporation recently announced a significant exploration discovery.

Frontera explained that the additional 3D seismic program meant that both the Corentyne and Demerara blocks would be largely covered by high quality 3D seismic.

The additional Corentyne seismic will facilitate the development of a higher quality ranked list of prospects and the selection of a drilling location on each block for drilling during the second half of 2020.

When it comes to drilling operations on the block, CGX in September also deferred all operational obligations under its drilling rig contract for the Ralph Coffman jack-up due to the re-sequencing of commitments in the Corentyne Block.

CGX agreed with the rig owner Valaris that all operational obligations under the drilling rig contract would be deferred until the parties could enter into an amended agreement due to the re-sequencing of the commitments in the Corentyne Block and plans to drill in its Demerara Block back-to-back with its Corentyne Block during 2020.

Offshore Energy Today Staff


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