Oil exploration company, CGX Energy has completed 3D mapping of its Corentyne licence area.
In a statement on Monday, the company announced the completion of the 1160 square kilometre 3D marine seismic contract. The seismic acquisition was performed by the PGS Ramform Challenger, a state-of-the-art seismic ship owned by a subsidiary of Petroleum Geo-Services (PGS). PGS used their dual-sensor Geo-Streamer(R) technology, which was instrumental in delivering high quality data, the statement said.
“This 3D seismic contract was completed ahead of schedule and was under budget. We are very pleased with the proficiency and technology utilized by PGS in acquiring this 3D seismic data on our behalf. The seismic data is expected to provide better imaging of the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and has provided us with the first 3D seismic coverage on our two early Cretaceous, Albian prospects (Crabwood and Kabukalli) which are underlying the Company’s 100% owned Corentyne offshore Petroleum Prospecting License (PPL),” Stephen Hermeston, President and CEO of the company was quoted as saying.
“Fast track processing and interpretation of the data will commence on the Albian prospects and will be followed by processing, interpretation and compilation of the Eagle deep Turonian and Campanian prospects,” he added while thanking the Guyana Geology and Mines Commission and the Ministries and related Agencies of the government “for their cooperation in fast-tracking this seismic acquisition program and PGS for their outstanding contract performance.”
The Canadian company is expected to commence drilling its Eagle-1 well on the company’s 100% owned and operated Corentyne PPL, offshore Guyana next month.
Earlier this month, the company had announced that the Ocean Saratoga semi-submersible drilling rig which the company will use to search for oil departed the Gulf of Mexico on January 1st and it was anticipated that the rig will arrive on location around the end of this month.
CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospecting by the United States Geological Service.
