Basin Potentials

Exploration potential remains strong in the highly prospective Guyana Basin with many recent discoveries. Since the 2015 Liza discovery, activity in the Guyana Basin has increased significantly with enhanced exploration drilling. More than 11 billion barrels of recoverable oil equivalent has been discovered to date from 32 major oil discoveries.  Discoveries adjacent to CGX’s Corentyne Block at Pluma and Haimara found 37 meters and 63 meters of high-quality hydrocarbon-bearing sandstone reservoirs on-trend with other major commercial discoveries (Haimara, Kiru – Kiru, and Seabob on the Stabroek Block). The Haimara well found 63 meters of high-quality gas condensate-bearing sandstone reservoir approximately 8 miles from Corentyne block. In 2022, Kiru-Kiru and Seabob discovered 40 meters and 30 meters of reservoir in the Campanian and Santonian intervals.  In addition, Suriname has made significant discoveries on Block 58 in line and on trend with Stabroek discoveries (Maka Central, Sapakara West, Kwaskwasi, Keskesi, and Krabdagu).  In January 2020, on Block 58, the Maka Central well made a significant oil discovery offshore Suriname approximately 7 miles from the Corentyne Block. Following Maka, Sapakara West-1 well discovered at least 79 meters of net oil and gas condensate pay; Kwaskwasi well reported to have at least 278 meters of net oil and volatile oil / gas condensate pay; Keskesi reported 63 meters of condensate and oil pay; and the most recent discovery on trend, Krabdagu, with approximately 90 meters of net oil pay in the Maastrichtian and Campanian reservoirs. With the Golden Lane of discoveries on Stabroek reaching 11 billion barrels of oil equivalent, recent Campanian and Santonian discoveries in Suriname equating to more than 1.7 billion barrels of oil equivalent, and the developing Lower Campanian-Santonian exploration play up-dip of the Golden Lane, Guyana has seen a steady increase in discovered resource barrels.