HAMBURG, Germany – RWE Dea has a deal with Repsol Exploración Guyana to farm-in to the Kanuku license operated by Repsol in the Guyana-Suriname basin offshore Guyana. By entering the South American country, RWE Dea further expands its upstream position along the northeastern coast of South America.
Under the farm-in agreement, RWE Dea will acquire a 30% share in the Kanuku license. After regulatory approvals, the Kanuku block will be explored by a consortium formed by Repsol (40%, operator), RWE Dea (30%), and Tullow Oil (30%). The transaction remains subject to the approval of the government of the Republic of Guyana.
The license is in the prospective Guyana-Suriname basin, 80 km (50 mi) off the northeastern coast of South America and covering an area of 6,525 sq km (2,519 sq mi). Kanuku represents Cretaceous strata in water depths ranging from shallow shelf to 200 m (656 ft).
The acquisition of 2D and 3D seismic data was completed in December. After processing, the seismic data will be interpreted together with already existing 3D data, with the objective of identifying drillable prospects by the end of 2014.
RWE Dea plans farm-in to Kanuku license offshore Guyana