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Eco (Atlantic) Oil & Gas to provide update on Orinduik petroleum block targets in Q3

Thu, 17th Jun 2021

Oil and gas exploration company Eco (Atlantic) Oil & Gas said it could map out targets to drill in the Orinduik petroleum block offshore in Guyana in Q3, paving the way to begin drilling in 2022. 'We are seeing very material independent and stacked prospects and will define a ranking of these targets in the coming fall, which we are prepared and budgeted for, and (assuming JV approval) which will enable us to drill on the play in 2022,' the company said. The joint venture partners in the Orinduik block were 'confident' in the technical advancement and scheduled progression towards drilling target selection in Q3 of 2021, the company added. 'The Guyana / Suriname Basin is set to mature from its current 10 billion plus discovered barrels, and current 120,000 BBbls/Day, to potentially 10 FPSOs and over a million barrels of production per day, expected mid-way through this decade,' it added. Story provided by StockMarketWire.com

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