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CGX readies for another well next year
Guyana will take another shot next year at drilling for oil offshore, Canadian-owned
The HAKURYU-12 jack-up rig from Japan Drilling Co will be used to drill another well offshore Berbice for CGX Energy.
CGX Energy Inc. announced yesterday.
Providing an update on its next exploration well on the company’s 100% owned and operated Corentyne Block, CGX yesterday said that the HAKURYU-12 jack-up rig from Japan Drilling Co. is on schedule for completion by January 2015.
An announcement on mobilization and spud timing will be announced at a later date, the company said.
According to CGX, with the assistance of the technical team at Pacific Rubiales Energy Corp., it has already “defined the well location and is in the process of planning its drilling activities for 2015”.
According to Dewi Jones, Chief Executive Officer, “The Company will be drilling the Kabukalli prospect offshore Guyana. The Kabukalli-1 well will test the Upper Cretaceous geologic objectives to an anticipated total depth of 4,502 metres and is anticipated to take approximately 73 days to drill (including contingency). This drilling emphasizes CGX Energy’s continued efforts in evaluating the petroleum potential of this highly prospective basin.”
CGX also said it is moving forward with by acquiring, processing and interpreting 3,000 line kilometers of airborne geophysical data.
“CGX Energy has contracted Sander Geophysics Ltd. to perform the airborne gravity and magnetic survey. This survey will provide CGX Energy with additional data necessary to optimally position its 2D seismic survey which will likely take place during 2015. The Berbice petroleum prospecting licence governing the block is held by ON Energy Inc., which is 62% owned by CGX Energy.”
CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin. In 2012, the company was involved in drilling wells offshore Georgetown and Berbice, but both came up dry.
Guyana is hoping to find oil as fuel exports remain one of its biggest expenditure annually.
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