Recently installed President of Guyana, Donald Ramotar, accompanied by the country's Minister of Natural Resources and Environment Robert Persaud, energy company Repsol's North LATAM exploration director, Joseba Murillas and Repsol's Guyana country manager, Giancarlo Ariza, recently toured the Atwood Beacon jack-up drilling rig at Repsol's "Jaguar-1" well location in that country.
This visit was complemented by the presence of representatives of governmental authorities and members of the consortium, who have been able to see the drilling activities that are being carried out by Repsol, the company said in a statement.
The President's visit to the drill site reaffirms the government's commitment to oil exploration and gas, Repsol said.
Last December 5, Repsol Exploración SA, initiated operations to drill the exploratory well Jaguar-1, located 160 kilometres East-Northeast of Georgetown, in the offshore Guyana-Suriname basin.
The well will be the deepest ever drilled in the region (21,425 feet below sea bed) and the drilling operations are carried out by the Atwood Beacon, a jack-up rig capable of drilling beyond 35,000 feet in depth.
The Georgetown Block was awarded to Repsol in 1997 by the Government of Guyana for exploration and production of oil and gas. Repsol Guyana is the operator of the Georgetown licence with 15 per cent shares, and the joint venture partners are YPF 30 per cent (Repsol controlled subsidiary), CGX Energy Inc (25 per cent) and Tullow Oil plc (30 per cent).
Repsol is one of the largest oil companies in the world with operations in over 37 countries.