New Discoveries Offshore Of Guyana

New Discoveries Offshore Of Guyana

oileExxonMobil is on a winning strike in the coast of Guyana, Hess corporation has announced positive result from the Tilapia-1 and Haimara-1 wells of the coast. The total number of discoveries of the Stabroek block is 12.

In its latest statement COE John Hess mentioned “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 Bboe,”

On January 7th the Noble Tom Madden drillship began to drill the well, the next drill will be at the yellowtail-1 well, located about six miles (10km) west of the Tilapia-1 well in the Turbot area.

The Haimara-1 well holds approximately 207 ft (63 m) of high-quality gas. The well was drilled to a depth of 18,289 ft (5,575 m) n 4,590 ft (1,399 m) of water. The well is located about 19 mi (31km) east of the Pluma-1 well and is potential new area for development.

The previous 10 discoveries on the Stabroek Block established the potential for at least five floating, production storage and offloading (FPSO) vessels producing more than 750,000 bopd by 2025.

The Liza phase 1 development is on schedule and expected to begin producing up to 120,000 bopd in early 2020, utilizing the Liza Destiny FPSO. Liza Phase 2, which will use a second FPSO designed to produce up to 220,000 bopd, is expected to startup by mid-2022. A third development Payara is expected to startup as early as 2023

The Stabroek Block is 6.6 million acres (26,800 km2) ExxonMobil affiliate ESSO Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Limited holds 30% interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited holds 25% interest.

Soon Guyana will surpass Venezuela oil production very soon.