Demerara Waves Online News- Guyana Riding on the Crest of Truth
Last Updated on Saturday, 28 November 2020, 19:12 by Denis Chabrol
The Canadian oil exploration company, CGX Energy, and its fellow Canadian joint venture partner, Frontera, have decided to postpone exploration work in the Corentyne Block until next year.
Frontera-CGX had set itself November 27, 2020 to drill the next well at Utakwaaka well on the Corentyne block which is adjacent to the Stabroek Block.
However the joint venture partners at the weekend said that the next well will be extended to November 27, 2021 subject to documentation.
The partners say operational activities in Guyana have been severely affected for much of 2020 due to the COVID-19 2020 delaying exploration activities.
Frontera-CGX say they have held constructive and collaborative discussions with the Guyana government. CGX holds a 1.1 million acre concession on the Corentyne Block.