Canadian company about to drill in Takutu Basin
TAKUTU Oil and Gas Inc., the Guyana subsidiary of Canadian oil companies, Groundstar Resources Limited and Canacol Energy Limited, is in the final stages of preparation for drilling in the Takutu Basin, within Region Nine (Upper Takutu/Upper Essequibo), local officials said. They said the exploration will start in Apoteri K-2 well by late next month or early December.
Head of the Guyana Geology and Mines Commission (GGMC) Petroleum Division, Mr. Newell Dennison visited the location last weekend and confirmed, yesterday, that the preparatory stage is advanced.
Gaffney Cline Associates, an independent, international energy consulting firm, had, last year, estimated gross mean recoverable prospective resources from the K-2 well at 128 million barrels of oil.
The joint venture has already built the drilling pad, access roads and staging areas and completed purchase and mobilisation of tubes and wellheads sufficient for three wells.
Canacol’s partners include Sagres Energy Inc. and they are eligible to earn a 25 per cent working interest in the Petroleum Prospecting Licence (PPL) by paying for 30 per cent of the cost to drill the K-2 exploration.
They plan to drill the Apoteri K-2 well to a total of approximately 11,000 feet measured depth. The bottom hole of it will be about 400 meters North West of the Karanambo 1 discovery well and target the same productive reservoirs that tested, in 1982, for 400 barrels of oil daily.
The new well is anticipated to take 50 days to drill and test and, if successful, will be put on a long term production experiment to establish the deliverability and performance of the reservoirs.