Tuesday, 21 May 2013
ACCUSED COP KILLER REMANDED - prosecution has tota... » TWENTY-SIX-YEAR-OLD Shaka Chase of 169 East Ruim...
Rise up against opposition stand on money launderi... » WITH six days left before Guyana comes up for revi...
Two-mile-wide tornado kills at least 51 -- includi... » Moore, Oklahoma (CNN) -- Rescue workers raced agai...
Ruling PPP/C leads APNU & AFC in popular support -... » AN opinion survey conducted by the North American ...
Lost Hope... The mystery of two sugar workers who ... » TODAY marks eight years since two sugar workers, M...
Forensic laboratory scheduled for June completion ... » THE Forensic Laboratory currently under constructi...
GPL will need $5B subvention in face of pay hike-D... » The Guyana Power and Light (GPL) will be placed in...
|After some success… SAFETY CONCERNS STOP JAGUAR-1 PARTNERS FROM OIL DRILLING|
|Monday, 16 July 2012 22:33|
- Gov’t supports halt
- engaging CGX, Repsol and Tullow
THE oil companies involved in drilling Jaguar-1 well, 107 miles away from the city in the Georgetown Block near the border with Suriname, announced yesterday, that they had stopped operations due to safety considerations.
They discontinued the exploration at a depth of 4,867 meters, approximately 75 percent of the targeted 6,477 meters, which had been stated before the spud in February and the abandoned hole is to be capped, officials said.
The decision to stop, at this point, was unanimously agreed to by all partners after it was found that the safe pressure design limits at the site were in danger of being exceeded.
Those involved in the partnership, of which Jaguar-1 is a part, are Repsol Exploración S.A. (15%), as operator; YPF Guyana Limited (30 percent); Tullow Oil plc (30 percent) and CGX Resources Inc. (25 percent).
An official of Tullow said that the well, which was being drilled for five months, was prevented from going deeper because it could not handle the high levels of pressure encountered.
It was a “high pressure, high temperature” type, the same as BP's which caused an explosion in the Gulf of Mexico in 2010 and led to the worst offshore oil spill in U.S. history, he said.
A CGX official said that whilst the primary ‘late cretaceous’ geologic zone was not reached, samples of light oil were, successfully, recovered from two turbidite sands.
CEO President Kerry Sully said: “Based on hydrocarbons recovered during the drilling of Jaguar-1, CGX is confident that a new well, targeting the same prospect would hold significant promise and is, therefore, committed to seek a re-drill, utilising a new well design."
Commenting on his company's plans in the Guyana/Suriname Basin, CGX Chairman Dr. Suresh Narine reiterated the near term goals of CGX, stating: “In addition to our commitment well on the Corentyne Block, we are planning a 3D seismic programme, later this year, with our ultimate goal being to commit to a rig for a three to five wells programme.”
“Added to this, would be the re-drill of the Late Cretaceous target addressed by the Jaguar-1 well,” Dr. Narine explained.
GOV’T SUPPORTS HALT
Meanwhile, the government yesterday said it is in full support of the decision by local oil explorers Tullow, Repsol and CGX Energy Incorporated to halt its drilling activities in face of safety concerns.
The Ministry of Natural Resources and the Environment, in a release, said Government accepts the consortium’s decision to close operations, safety being the primary consideration after it was officially informed on Sunday.
The drilling of Jaguar #1 was estimated to be completed in approximately six months and progress with the well was steady. However, down-hole conditions became very challenging and despite the resort to technical and engineering solutions by the consortium, Government accepts the consortium’s decision to close operations, safety being the primary consideration.
“The Guyana Geology and Mines Commission has been mandated to work with all related parties on a full analysis and determinations from information gathered so far. But evidence of petroleum occurrences was encountered, which were encouraging to all the parties,” the ministry said.
It said Government and operator for the consortium, Repsol, continue to be engaged on the way forward, which could include a second well to achieve the intended objective of the Jaguar #1. “These discussions have started as it is our intention to see an early restart of early exploration drilling by all the approved parties,” the ministry stated.
|Last Updated on Monday, 16 July 2012 22:34|
More Top Stories
- ACCUSED COP KILLER REMANDED - prosecution has total of 17 witnesses, defence has lots of alibi evidence
- Rise up against opposition stand on money laundering law …PPP wants social forces to bring to bear pressure over hardline stand
- Two-mile-wide tornado kills at least 51 -- including 7 elementary school students
- Ruling PPP/C leads APNU & AFC in popular support -according to latest NACTA poll
- Lost Hope... The mystery of two sugar workers who disappeared eight years ago
- Forensic laboratory scheduled for June completion -equipment to begin arriving next week
- Tree pins Wakapao pensioner to death
- 24-year old missing after vessel capsizes
- GPL will need $5B subvention in face of pay hike-Dr Singh
- Three persons detained for Mootoos killing
- No flexibility with importation of banned, restricted chemicals-Dr Ramsammy
- The dramatically changing Georgetown skyline
- Ramjattan a no-show for anti-money laundering meet : --Opposition bent on scuttling process
- GECOM successfully concludes extended registration
- NACTA poll finds… : Even APNU, AFC supporters ‘disappointed’ with their performance : --also against calls for snap elections
- WPO calls M&CC out (Bg, big head) : --for ‘reprehensible’ attack on Town Clerk (Ag)
- Bandits beat, shoot Turkeyen resident in early morning robbery : --Bullet lodged between victim’s lung and rib
- K&VC murder accused remanded until May 21
- Home Affairs launches “I Paid A Bribe” website
- Luncheon slams opposition over vicious designs to remove PPP/C gov’t