The drilling of the Wei-1 well in the Corentyne block, offshore Guyana, is slated to run from May to August this year but could be extended if hydrocarbons are encountered, according to CGX Resources Inc (CRI).
CRI is a wholly-owned subsidiary of CGX Energy Inc.
CGX is undertaking oil exploration activities in the offshore Corentyne and Demerara blocks with its joint venture partner Frontera.
The drilling of the exploration well, estimated to cost US$93 million, is scheduled to commence in May and conclude in August, 2022, according to CRI’s revised project summary, which was submitted to the Environmental Protection Agency as part of its application for an environmental permit.
The project will consist in two stages – Drilling and decommissioning/Plugging and Abandonment (P&A) – with operations expected to be conducted 24 hours per day for the estimated days. The petroleum exploration drilling activity entails moving a drilling rig into position, then spudding and drilling of the exploration well
“In the event hydrocarbons are encountered, the drilling programme may be extended,” CRI said. In addition, the company said that Appraisal wells may follow should Wei-1 prove successful. If so, the Appraisal Wells will be similarly drilled and would take up to 85 days each.
It was also said that while no sidetracks (secondary wellbores) are planned for Wei-1, a sidetrack remain within the realm of possibility in the event drilling operational challenges are encountered prior to reaching the geologic objective.
A sidetrack would add an estimated 20-30 days to the operation
CRI notes that Wei-1 will be evaluated for hydrocarbons, but no production is expected at this stage.
“The exploration drilling operation will provide the company with valuable information for the assessment of the potential for oil production. Although no production is expected at this stage, the exploration drilling may result in a find which would lead to a production stage,” says CRI.
The site of the proposed Wei-1 well is approximately 200km from Georgetown in a North Easterly direction in the Atlantic Ocean.
Following a discovery of hydrocarbons at the Kawa-1 well in January, CGX and Frontera announced that they would be focusing on developing the Corentyne block.
