Rig delay puts back Guyana offshore drilling plans

Offshore staff

TORONTO – Guyana’s government has agreed to extend the deadline for drilling of the offshore Jaguar-1 well.

Repsol operates the surrounding Georgetown Petroleum Prospecting License, in partnership with YPF Guyana, Tullow Guyana, and CGX Energy subsidiary CGX Resources.

According to CGX, the extension was granted because the contracted jackup Atwood Beacon has been delayed due to a drilling program offshore neighboring Suriname.

Stephen Hermeston, president and CEO of CGX, said that personnel and equipment for Jaguar-1 are already in Guyana, and 95% of the contracts are in place.

09/30/2011



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