What is Repsol’s history in Guyana?
Repsol has been present in Guyana since 1997. We drilled our first Guyana exploration well in 2012 in the Georgetown block, and at the end of the Georgetown license we successfully applied for and received a new Petroleum Prospecting License in 2013 for the Kanuku block. We completed 2D and 3D seismic acquisition in the Kanuku block in 2013 and 2017, and we plan to drill the first exploration well in 2019 to determine if hydrocarbons may be present.
What is Repsol’s current position in Guyana?
- Repsol operates the Kanuku block with a 37.5% working interest. The block is located 150 kilometers offshore Guyana in 70-100 meters of water. Repsol is targeting an oil prospect in the Kanuku block, where we plan to spud the first exploration well in 2019.
What is the status of the Kanuku block?
- Repsol completed the acquisition of 2D in 2013 and 3D seismic data in 2013 and 2017 on the Kanuku block and plans to drill the first exploration well in 2019. Repsol has invested approximately $60 million USD to date in the Kanuku block exploration program.
When did Repsol sign its PSA for the Kanuku block?
- Repsol signed its PSA for the Kanuku block with the government of Guyana in 2013. The contract is currently in the first renewal period for three years.
Is Repsol going to make its PSA public?
- The PSA is accessible on the Ministry of Natural Resources website through the link shown below. We were in agreement with the Ministry decision to make public the PSA. This reflects Repsol’s value of transparency and our commitment to be a responsible and trustworthy operator.