Total targeting up to 3 Guyana wells this year despite heavy crude encounters - Panorama Insurance Brokers

Total targeting up to 3 Guyana wells this year despite heavy crude encounters

French oil company Total expects two to three new offshore wells to be drilled in Guyana this year, Chief Executive Patrick Pouyanne says. This is despite encountering heavy crude at two prospects last year, which brought into question their commerciality, and the possibility of near-term future exploration offshore the South American country.

Offshore Guyana, UK-based Tullow Oil owns 60% and Total 25% of the Orinduik block, estimated to hold around 5.1 billion barrels of oil equivalent. Total also holds 25% in the Kanuku block, adjacent to Orinduik, in which Tullow holds 37.5%.

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