REPSOL asks for extension to continue work at Kanuku Block

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Officials from global energy company REPSOL, today, Wednesday, January 13 2016, met with President David Granger to seek an extension to continue exploratory work in the Kanuku Block.

From L-R- REPSOL's Country Manager, Mr. Giancarlo Ariza, Minister of Natural Resources, Mr. Raphael Trotman; President David Granger, REPSOL's Latin America Exploration Director, Mr. Mikel Erquiaga and Exploration Manager of the Atlantic Basins, Mr. Allan Kean, at the Ministry of the Presidency this morning.
From L-R- REPSOL’s Country Manager, Mr. Giancarlo Ariza, Minister of Natural Resources, Mr. Raphael Trotman; President David Granger, REPSOL’s Latin America Exploration Director, Mr. Mikel Erquiaga and Exploration Manager of the Atlantic Basins, Mr. Allan Kean, at the Ministry of the Presidency this morning.

According to a media release issued by the Ministry of the Presidency, in a brief comment after the engagement, REPSOL’s Latin America Exploration Director, Mr. Mikel Erquiaga explained that the company has to drill a well, but had been delayed by several stumbling blocks, including its legal battle with CGX Energy Incorporated in 2012 over exploration activities in the Georgetown Block. This matter was resolved in 2014.

REPSOL said it would need an extension to complete the necessary preparatory work for drilling to begin. “We want a short extension in order to continue working in the Block and eventually drill a well,” Mr. Erquiaga said.

Minister of Natural Resources, Mr. Raphael Trotman also attended the meeting, which was held this morning at the Ministry of the Presidency.

REPSOL, which is based in Spain, is one of the first oil companies to discover oil in Guyana. It commenced drilling in 2012 at the Jaguar-1 well and discovered the presence of hydrocarbons.

 

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