CGX Energy said that its joint venture with Frontera Energy will focus on exploration opportunities in the Corentyne block offshore Guyana in 2022 based on the positive results achieved at the Kawa-1 exploration well.

However, the partners will not undertake any drilling activities this year on the Demerara block, which is also located in Guyanese waters.

Around this time last year, CGX Energy said that a total of 32 prospects had been identified in the Demerara and Corentyne blocks with a mean volume of 4,940 million barrels of oil equivalent (MMboe) unrisked and 884MMboe risked. Of these 27 prospects are located in the Corentyne block.

Currently, the partners are engaged in talks with the Guyanese government about the Demerara block.

CGX Energy said that early-stage wireline logging results from the Kawa-1 well confirm the logging while drilling (LWD) indications with a total of 200ft of net pay intersected at various depths.

The company stated that further analyses of logs and samples are going on.

Last month, CGX Energy and Frontera Energy made a hydrocarbon discovery at the Kawa-1 well. The exploration well encountered nearly 54m of hydrocarbon-bearing reservoirs within Maastrichtian, Campanian, and Santonian horizons.

The Kawa-1 well was spudded to a depth of 21,578ft and targeted the easternmost Campanian and Santonian channel/lobe complex on the northern part of the Corentyne block.

The joint venture expects drilling its second commitment well, dubbed Wei-1, in the northwestern section of the Corentyne block in the latter half of this year.

To be drilled by the Maersk Discoverer semi-submersible mobile drilling rig, the Wei-1 well will target the Campanian and Santonian aged stacked channels.

Apart from being its joint venture partner, Frontera Energy is the majority shareholder of CGX Energy.