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Orinduik Block partners examining best targets to drill for light oil
…confident in oil block potential
Source: Eco (Atlantic)
Kaieteur News – Canada-based explorer, Eco-Atlantic Oil & Gas Ltd., one of the partners in the Orinduik Oil Block, has revealed that they are in the analyzing stage to figure out the best targets to drill for “light oil.”
This was revealed by Eco Atlantic Chief Executive, Gil Holzman to Upstream, a leading global oil, gas and energy news resource.
Eco Atlantic Oil & Gas chief executive Gil Holzman. Photo: ECO ATLANTIC
The media entity reported that in Guyana, Eco Atlantic is a partner in Tullow Oil’s Orinduik block and the Canje block, which together sandwich ExxonMobil’s prolific Stabroek acreage. It was stated that at Orinduik, if the licence is renewed at the end 2023 a well needs to be drilled.
“We are currently planning, reviewing and analyzing to understand exactly what the best targets are to drill for light oil, and we have three options,” Holzman told Upstream.
The Chief Executive noted too, “We’re very bullish about the potential of Orinduik and are working with Tullow to find the right way to [proceed].”
Last year, this publication reported that from Eco’s Competent Person’s Report (CPR) on its assets Offshore Guyana, it was revealed that the Orinduik Block holds estimated 8.1B barrels of oil.
With respect to its Guyana asset, the main one being Orinduik Block, it was noted that the concession carries a best estimate of 8.1 billion barrels of unrisked oil and gas liquids along with 6.8 billion cubic feet of gas. It was observed from the report that 681 million barrels of oil and 544 billion cubic feet of gas are net to Eco.
ABOUT ECO
Eco Atlantic is an oil and gas exploration company with offshore licence interests in Guyana, Namibia, and South Africa. Eco has often said it aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.
Offshore Guyana in the proven Guyana-Suriname Basin, the company holds a 15 percent Working Interest in the 1,800 km2 Orinduik Block operated by Tullow Oil.
- Atlantic Chief Executive, Gil Holzman, Tullow Oil’s Orinduik block and the Canje block, which together sandwich ExxonMobil’s prolific Stabroek acreage.
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