LatAmOil: Guyana hopes Corentyne block will come on stream by 2030

Guyana’s Natural Resources Minister Vickram Bharrat says he is hoping CGX Energy and Frontera Energy of Canada will be able to start production at the offshore Corentyne block within the next eight years.

Speaking to members of the Georgetown Chamber of Commerce and Industry (GCCI) on October 13, Bharrat noted that CGX and Frontera had been the first international oil companies to make a major discovery of hydrocarbons outside the Stabroek block operated by ExxonMobil (US). These companies’ successes at Corentyne raise hopes about the potential for bringing other sections of Guyana’s offshore zones on stream, he said.

Corentyne itself is likely to be deemed commercially viable following additional exploration, Bharrat added. “We have already made a discovery in the Corentyne block,” he said, “They did an appraisal well, and there are plans to do more appraisal wells. So it is highly likely that the Corentyne block can be in production by 2030.”

The minister did not discuss the Canadian companies’ plans for moving forward with exploration and appraisal drilling at Corentyne.