Westmount Energy Limited, a UK investment firm with shares in blocks offshore Guyana, was pleased to announce that the Stena Carron drillship will commence drilling operations at the Jabillo-1 wellsite on the Canje Block tomorrow.
Jabillo-1 is the second of three exploration wells scheduled for drilling the offshore concession in 2021. Previously published information indicates that Jabillo-1 is a one billion barrel oil prospect targeting a Late Cretaceous, Liza-age equivalent, basin floor fan.
Furthermore, Guyana Standard had reported on March 5, last, that Bulletwood-1, the first well to be drilled in the Canje block only confirmed the seismic interpretation of the geology and showed evidence of non-commercial hydrocarbons. Once the drilling is completed at Canje, it is poised to return to the Stabroek Block for further exploration works.
Westmount holds an indirect interest in the Canje Block as a result of its 7.7% interest in the issued share capital of JHI Associates Inc. (“JHI”). Following a 2018 farm-out to Total, JHI is carried for the drilling of the Jabillo-1 well and is funded for the drilling of additional wells.
The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI (17.5%), and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
