Deep and ultra-deep targets like Liza and Yellowtail in the Guyana basin have been gaining much recognition in the last few year years by industry stakeholders.
But Eco Atlantic, one of the companies with a working interest in the Orinduik Block, is hoping to shift some of that attention to some of Guyana’s shallow water targets. In fact, the company has a particular interest in the shallow water targets on its own block which was recently de-risked with a significant discovery. But before it makes any decision for its drilling programme in this regard, it will be watching, with close interest, the Carapa-1 well that will be drilled by its partner Tullow Oil on a separate block, the Kanuku Block.
This position of the company was made known by its CEO, Gil Holzman.
The Guyana Standard understands that the Kanuku block is expected to be drilled in the third quarter of 2019. The Carapa prospect is a 200 million barrel Cretaceous target located in 70 meters of water and will be drilled using a jack-up rig.
In light of this, Holzman said, “Tullow will be testing the Cretaceous play but in shallow waters and it will be very telling for us with respect to the targets we see and have identified on our block.”
The CEO also noted that the Orinduik Block possesses a Cretaceous play and is estimated to hold some two billion barrels of oil. Further to this, Holzman said that his company is also closely monitoring the drilling for its second prospect called Joe which is an Upper Tertiary Target as it is in shallow water. It is estimated to take about a month to drill.
The Eco Atlantic Head said, “…After the drilling, we will reprocess the entire 3D data that we have over the block in order to decide what is going to be the plan for next year. We are funded for additional wells next year too and we are confident on the block and our team. So the future looks bright for us.”
As for the Jethro-1 well which marked Orinduik’s first oil discovery, Holzman noted that it was cased and cemented as a production well. He said that appraisal results will be out soon.