ExxonMobil makes two new discoveries offshore Guyana

ExxonMobil has made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12.

Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbot, Longtail and Pluma discoveries. Tilapia-1 encountered approximately 305 feet of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet, The well is located approximately 5.5 kilometers west of the Longtail-1 well.

The Noble Tom Madden drillship began drilling the well on Jan. 7 and will next drill the Yellowtail-1 well, 10 kilometers west of Tilapia-1 in the Turbot area. Baseline 4-D seismic data acquisition is underway.

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

The other discovery was at the Haimara-1 well, which encountered approximately 207 feet of high-quality, gas-condensate bearing sandstone reservoir. The well was drilled to a depth of 18,289 feet. It is located approximately 31 kilometers east of the Pluma-1 discovery and is a potential new area for development. The Stena Carron drillship began drilling the well on Jan. 3 and will next return to the Longtail discovery to complete a well test.

There is potential for at least five floating, production storage and offloading vessels (FPSO) on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025.

Liza Phase 2 is expected to startup by mid-2022. Pending government and regulatory approvals, sanctioning is expected in the first quarter of 2019 for the project, which will use a second FPSO designed to produce up to 220,000 barrels per day. Sanctioning of a third development, Payara, is also expected in 2019, and startup is expected as early as 2023.

The Stabroek Block is 26,800 square kilometers. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 per cent interest.