Guyana drilling difficult for Spanish energy group

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The Repsol drilling platform in Guyana waters Credit: Repsol

THE Repsol energy group has a strong oil drilling operation and has been working of the coast of Guyana in South America since 1997.

Recently it has been drilling with partner Tullow Oil plc but has had mixed success and its latest work has led to exploration in the Carapa 1 area being halted and the well plugged and abandoned.

After drilling more than 3,000 metres, it found very little oil which meant that it now has to consider all of its exploration activities in the area which it has licenced.

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