Gov’t tells CGX Demerara, Berbice exploration wells must be drilled as prospecting licences near expiration

With just under a year remaining before the expiration of its prospecting licences, CGX Energy has been informed by the government that it is expected to drill exploration wells in the offshore Demerara and Berbice blocks.

As a result, CGX, which recently announced plans to focus on the Corentyne block this year to guide future activities, has said it will be seeking talks with the Natural Resources Ministry.

CGX and joint venture partner Frontera, which is its majority shareholder, on February 4, 2022, said it would be focusing on developing the Corentyne block this year due to the initial positive results at the now abandoned Kawa-1 exploration well and that it would not engage in drilling activities on the Demerara block in 2022.