The Polarcus Asima engaged by Repsol to undertake 2D and 3D surveys in the Kunuku Block offshore Guyana
GEORGETOWN, Guyana (GINA) -- A high-level delegation on Saturday toured a state-of-the-art vessel, the Polarcus Asima, which has been engaged by Spanish multinational oil and gas company Repsol to undertake seismic two dimensional (2D) and three dimensional (3D) surveys in the eastern Guyana Offshore – Kanuku Block.
In May of this year, the Guyana government and Repsol signed the agreement for petroleum exploration in the Kanuku Block off the Berbice River by 2016.
In December 2011, Repsol began offshore drilling of the Jaguar-1 well in Guyana, but operations were abandoned after it encountered very high pressures at intervals above the targeted depth. Despite that, the results were said to be heartening, with the company’s director of exploration in Latin America, Joseba Murillas saying, “The oil recovered from Jaguar-1 was the first significant amounts ever recovered from offshore Guyana wells.”
Meanwhile, Minister of Natural Resources and the Environment, Robert Persaud, during the tour on Saturday, welcomed the early research and scientific work by Repsol, which will take Guyana and the company closer in its quest to drilling for oil offshore Guyana.
The minister stated that a key component of the exploration activities is early action, and he also took the opportunity to urge Repsol to maintain its urgency to realise the potential of a commercial discovery of oil.
He added that the company’s commitment to expend US$35 million for the current survey and the anticipated drilling for oil shows a great deal of confidence in Guyana’s hydrocarbon resources offshore.
According to Allan Kean, manager of exploration, Repsol, the state-of-the-art vessel will conduct refined seismic surveys over the next 90 days, which will be analysed and fast tracked for presentation to the company.
He pointed out that the 2D surveys will last for ten days, while 3D surveys will take a maximum of two-and-a-half months. Kean added that the information will allow the exploration team to make recommendations to Repsol’s management on the way forward.
Meanwhile, he indicated that Repsol will be ready to drill as soon as possible, since the company doesn’t make money until oil is found.