Latest update August 4th, 2026 12:30 AM
Eco Atlantic in talks with prospective partners for Orinduik Block as Jan. 2026 deadline looms
Kaieteur News – Though Canadian exploration company Eco (Atlantic) Oil & Gas Ltd. is yet to find a partner to complete the formal farm-out process to attract partners for the next phase of exploration in the Orinduik Block, located offshore Guyana – the company has disclosed that it is in talks with a number of prospective partners.
The Orinduik Block
Eco Atlantic holds a 100% working interest in the block. This follows the exit of former joint venture partners TotalEnergies and QatarEnergy, who withdrew for strategic reasons.
The company had announced the initiation of a formal farm-out process and in a statement issued this month on its results for the three-months ending June 2025, Eco Atlantic reminded that it is advancing an active farm-out process while evaluating its two previous discoveries in the block Jethro and Joe, both of which contained heavy oil.
The Orinduik Block has already demonstrated a working petroleum system, with two confirmed discoveries Jethro-1 and Joe-1 made in 2019 in the Lower and Upper Tertiary formations.
While both finds contained heavy oil, further analysis is ongoing to determine development feasibility. The company has said it continues to evaluate discoveries while assessing deeper Cretaceous prospects, which are believed to hold potential for lighter crude.
Eco had disclosed that it is advancing plans for a 2025 drilling campaign at the Orinduik Block offshore Guyana, targeting stacked Cretaceous reservoirs similar to those found in the prolific Stabroek Block. The company’s latest Competent Person’s Report (CPR) estimates gross prospective resources at 4.5 billion barrels of oil equivalent (MMBOE) in the block.
Eco Atlantic President and Chief Executive Officer Gil Holzman said in the recent statement, “In Guyana, we have continued to hold positive discussions with a number of prospective partners where we are working hard to realise the potential of the Orinduik block.” Eco is actively seeking new partners to support its 2025 drilling campaign targeting multi-million-barrel reserves in the Cretaceous formation.
The Orinduik block covering 1,354 square kilometers is located approximately 170 kilometers offshore Guyana is adjacent to the prolific Stabroek Block which is operated by ExxonMobil Guyana Limited that is estimated to hold 11.6 billion barrels of oil.
This update that Eco is in talks with prospective partners comes as the January 2026 deadline looms for the oil company to drill an exploration well on the block in keeping with its petroleum agreement. Eco entered the Second Phase of the Second Renewal Period of the Orinduik License on January 14, 2024. This phase requires the drilling of one exploration well targeting the Cretaceous formation before the license term ends on January 13, 2026.
Notably, in November 2023, Eco Atlantic completed the acquisition of a 60% operated interest in the Orinduik Block from Tullow Guyana for US$700,000 in cash, along with future contingent royalty considerations.
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