Offshore Guyana Partners Hit More Pay



Offshore Guyana Partners Hit More Pay
ExxonMobil, Hess and CNOOC's list of discoveries off the tiny South American country gets longer.

Exxon Mobil Corp., Hess Corp. and CNOOC Limited have tallied two more discoveries in the Stabroek Block offshore Guyana.

Hess and ExxonMobil on Wednesday reported discoveries at the Tilapia-1 and Haimara-1 wells in the southeastern part of Stabroek. The discoveries represent the 11th and 12th Stabroek successes, respectively. As Rigzone reported last month, both wells offshore the tiny South American country were wildcats.

“These two discoveries demonstrate the continuing exploration potential on the prolific Stabroek Block and add to the previously announced gross discovered recoverable resource estimate of more than 5 billion barrels of oil equivalent,” Hess CEO John Hess said in a written statement emailed to Rigzone.

Spud Jan. 7 by the Noble Tom Madden drillship, Tilapia-1 encountered approximately 305 feet (93 meters) of high-quality oil-bearing sandstone reservoir to a depth of 18,786 feet (5,726 meters) in 5,850 feet (1,783 meters) of water, ExxonMobil and Hess noted separately. Tilapia-1 is located approximately 3.4 miles (5.5 kilometers) west of the Longtail-1 discovery, and baseline 4-D seismic data acquisition is underway, they added.

Also, the companies noted that the Noble Tom Madden will next drill Yellowtail-1 – approximately 6 miles (10 kilometers) west of Tilapia-1 in the Turbot area.

“We see a lot of development potential in the Turbot area and continue to prioritize exploration of high-potential prospects here,” ExxonMobil Exploration Co. President Steve Greenlee stated. “We expect this area to progress to a major development hub providing substantial value to Guyana, our partners and ExxonMobil.”

On Jan. 3 the Stena Carron drillship began drilling Haimara-1, which encountered approximately 207 feet (63 meters) of high-quality, gas condensate-bearing sandstone reservoir, Hess and ExxonMobil reported. The companies pointed out that the well – located approximately 19 miles (31 kilometers) east of the Pluma-1 discovery – reached a depth of 18,289 feet (5,575 meters) in 4,590 feet (1,399 meters) of water and represents a potential new development area.

The next destination for the Stena Carron is the Longtail discovery, where it will complete a well test.

Serving as operator of the 6.6 million-acre (26,800-square kilometer) Stabroek Block is ExxonMobil’s Esso Exploration and Production Guyana Limited, which holds a 45-percent stake in the block. Hess Guyana Exploration Ltd. and CNOOC Nexen Petroleum Guyana Limited own 30-percent and 25-percent interests, respectively.

Thanks to their solid record of results offshore Guyana, ExxonMobil, Hess and CNOOC recently received praise from Rystad Energy.

ExxonMobil and Hess contend that Stabroek’s growing resource base, now estimated at more than 5 billion oil-equivalent barrels, could support at least five floating production storage and offloading (FPSO) vessels producing more than 750,000 barrels of oil per day by 2025. At that level of output, the potential exists for Guyana to produce more than its struggling neighbor – and OPEC member – Venezuela, Bloomberg reported earlier this week.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.