The Caribbean Advantage

04 August 2023

Geoex MCG is developing a portfolio of unique frontier opportunities in the Caribbean.

Speak with us to secure early participant rates for the multi-client 2D and 3D cross-border geophysical surveys in Trinidad & Tobago, Suriname, Barbados, Venezuela and Panama.

The proposed projects will produce PSTM, PSDM and Gravity-Magnetic datasets, with a potential for FWI uplift (by DUG).

CAMDI and CAMDI Phase II

The Tobago Trough is an underexplored area with excellent exploration potential, evidenced by surrounding discoveries. However, only a few exploration wells have been drilled in this vast frontier. To unlock this potential, Geoex MCG acquired 16,348 km of long-offset high-resolution 2D seismic data in the region (CAMDI 2019 survey).

Geoex MCG also plans to commence CAMDI Phase II, a program that is currently under development. The new data will offer a shallow-deep transition across the basins, with the objective to enhance the existing data grid and extend coverage towards Venezuela.

The Ministry of Energy and Energy Industries (MEEI) has published the expected blocks on offer for 2023 Shallow Water Competitive Bidding, with a deep offshore bid round in anticipation.

Read about Trinidad and Tobago's advantage in GEO ExPro

Barbados Enhanced

The Barbados data was acquired in 2012-13, with an additional broadband reprocessing uplift in 2023. The survey covers the Barbados Trough, the Tobago Basin and crosses the Barbados Ridge.

CAMDI Extension

Situated in Suriname and Guyana to support future bid rounds, the survey’s objective is to investigate structures and petroleum systems up and down dip of the Golden Lane. Exploration has seen varying results of wells and discoveries along the margin, lending itself to new data acquisition. The regional 2D seismic will assist to elucidate a better understanding of the subsurface near existing discoveries.

Venezuela

Venezuela is known to have the largest oil reserves in the world with its gas reserves showing huge potential for expansion. Geoex MCG’s proposed regional seismic is designed, in particular, to analyze La Luna deposition whilst also tying the Tertiary petroleum system of Perla. An extensive offshore dataset of this magnitude will also bring clarity and understanding to the geologic transition from the Maracaibo region to the central transpressional regime through to the Orinoco Delta.

Panama

Recent geologic history and paleo-tectonic frameworks show source rocks could have been deposited in both the Caribbean and Pacific sides of Panama, suggesting a high prospectivity in this frontier region.

In the Caribbean offshore, discoveries were recently made in neighboring Colombia (Gorgon-1 well) close to border. Our regional seismic is set to investigate this potential and map the proposed Miocene Source Rock (Gatun formation).

Acquisition in the Pacific waters will focus on reservoirs potentially sourced by the Miocene & Cretaceous sequences (Gatun fm & Loma Chumico) which have been proven to exist by drilling in Nicaragua.