Latest update April 18th, 2025 8:12 AM
Repsol to target 200Million barrels of oil resources in Kanuku Block next year
Kaieteur News – Next year, the joint venture partners on the Kanuku Block which includes Spanish oil operator Repsol and the UK’s Tullow Oil, will be targeting 200 million barrels of oil equivalent resources across the Beebei-Potaro well. This was recently disclosed by Tullow in its 2021 financial performance update to the market.
Map showing the location of the Kanuku Block
The UK-based company said the well will be drilled in mid-2022 and will target the prolific Cretaceous light oil play of the Guyana-Suriname Basin.
Kaieteur News previously reported that Repsol Exploración Guyana is the operator of the Kanuku Block, with a 37.5 percent stake while Tullow Guyana holds a 37.5 percent stake and Total E&P Guyana owns the remaining 25 percent interest.
In 2019, Tullow had pursued a three-well programme across the Kanuku and Orinduik Blocks to test three different play types – the Lower Tertiary, the Upper Tertiary and the Cretaceous.
In August 2019, Tullow had announced its first oil discovery in Guyana, with the Jethro-1 well on the Orinduik Block. The well encountered 55m of net oil pay in high quality oil bearing sandstone reservoir in the Lower Tertiary play. This discovery was followed in September by the Joe-1 well in the Upper Tertiary play. The quality of the oil is heavy, however, and has high sulphur content. Tullow and its partners are yet to make a decision on the way forward with these discoveries.
The Cretaceous Carapa prospect in the Kanaku licence was the final well in the 2019 progamme for Tullow. In January 2020, the British explorer announced that the well encountered approximately four metres of net oil pay, extending the Cretaceous oil play into the Group’s Guyana acreage.
Tullow is now working with its Joint Venture Partners on the overall prospect inventory and developing plans to unlock value from this acreage which is located 150 kilometres offshore Guyana in 70-100 metres of water.
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