Frontera Energy Corporation on Monday announced that the Kawa-1 exploration well offshore Guyana has been spudded.
“Today [Monday] is an important day for Frontera and CGX as we continue to make substantial progress in realizing the value of our investments in Guyana. The Joint Venture has spud the Kawa-1 well, which we believe is one of the most exciting exploration wells in the world,” Gabriel de Alba, Chairman of Frontera’s Board of Directors and Co-Chair of CGX’s Board of Directors said.
The Kawa-1 well is located in the northeast quadrant of the Corentyne block, approximately 200 kilometers offshore Guyana. The water depth is approximately 355 meters (1174 ft) and the expected total depth of the Kawa-1 well is 6,685 meters (21,932 ft).
The well was spudded on August 22, 2021 and the joint venture expects that it will reach the total depth in the first half of December.
With multiple opportunities based on internal geographical studies, the Kawa-1 well targets light oil in combination structural-stratigraphic traps in large Santonian and Campanian slope fan complexes.
The primary target is a Santonian sand with updip and lateral pinchout of the reservoir, as well as counter-regional dip and structural closure.
The Kawa-1 well is also expected to penetrate secondary objectives in a shallower Campanian sand and a deeper Santonian sand with the expectation of targeting additional hydrocarbon potential. The stacked targets in Kawa-1 are considered analogous to the discoveries immediately adjacent to the Corentyne Block, in block 58 in Suriname.
According to Frontera, the Kawa-1 well is expected to de-risk multiple other prospects on the block which also have stacked reservoirs and similar structural geometries. The company said that proximity of the Corentyne block to the Cretaceous Berbice Canyon sediment source is interpreted to have concentrated sandstone reservoirs in the North Corentyne area.
Frontera also announced that the Joint venture has exercised its option to drill a second well offshore Guyana with Maersk Drilling Holdings Singapore through the use of the Maersk Discoverer under similar terms and conditions as part of the agreement previously announced on April 22, 2021, between CGX Resources Inc. and Maersk.
De Alba said,” I am pleased with this major operational milestone for Frontera and CGX and appreciate the ongoing support of the Guyanese government, our employees, and our other various partners as we work together to maximize benefits for all our stakeholders.”
Frontera said that the decision to exercise the option is an important step in maintaining continuity in the exploration programme during a period of high demand in the region and consistency in working with a team familiar with the rig- important from a health and safety, efficiency and operational perspective.
The decision on the specific timing of the second well will be decided in the upcoming months to capitalize on the Joint Venture’s rich set of exploration opportunities.
