ExxonMobil has struck black gold for the fourteenth time in the Stabroek Block. This time, the discovery was made at the Tripletail-1 well which encountered approximately 108 feet (33 metres) of a high-quality oil-bearing sandstone reservoir.
According to the oil giant, Tripletail-1 was drilled in 6,572 feet (2,003 metres) of water and is located approximately three miles (5 kilometres) northeast of the Longtail discovery. After completion of operations at Tripletail, Exxon said that the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately six miles (10 kilometres) east of the Liza field.
Senior Vice President of Exploration and New Ventures at Exxon, Mike Cousins, noted that this discovery helps to further inform the development of the Turbot area. He also said that ExxonMobil and its partners would be deploying industry-leading capabilities to identify projects that can be developed efficiently and in a cost-effective way.
Following the announcement, Chief Executive Officer (CEO) of Hess Corporation, John Hess noted that the Tripletail discover underpins the Turbot area as a major development hub while noting that it adds to the previously announced gross discovered recoverable resource estimate of more than six billion barrels of oil equivalent on the Stabroek Block, with multibillion barrels of future exploration potential remaining.
Director of the Department of Energy, Dr. Mark Bynoe was keen to note that the discovery represents another major development for Guyana, which along with other oil discoveries, has the potential to advance the country’s economy and propel it towards impactful and sustained development.
Dr. Bynoe said, too, that the Energy Department continues to be encouraged by the prolific rate of discovery of high-quality hydrocarbons offshore Guyana as the discoveries add to the further de-risking of this play type in the deep and ultra-deep zones.
Further to this, Dr. Bynoe said, “This discovery is another indication that Guyana’s future is bright. But we can only secure that future through stronger collaboration, an improved legislative environment, and a cohesiveness that is most necessary at this time than at any time in our country’s history. The Department of Energy, along with its partner institutions, will continue to work assiduously and efficiently to ensure that we extract the best value from these resources for our nation and people.”
With this new find, ExxonMobil is expected to continue to move forward exploration and development activities elsewhere on the Stabroek Block offshore Guyana. The Stena Carron drill ship is currently drilling the Ranger-2 well and upon completion will conduct a well test at Yellowtail-1. The Bible Bod Douglas drillship is currently completing development drilling operations for the Liza Phase One project.
ExxonMobil will add a fourth drillship, the Noble Don Taylor, in October 2019 as the company continues to optimise its drilling plans, based on well results and the ongoing study of the basin.
Previously, ExxonMobil announced plans to have at least five FPSO vessels on the Stabroek Block, which will produce more than 750,000 barrels of oil per day by 2025.
Kaieteur News understands that the Liza Phase One development is on track to start-up by early 2020 and will produce up to 120,000 barrels of oil per day, utilising the Liza Destiny FPSO. ExxonMobil has also indicated that the Liza Phase One development remains on schedule to start up by early 2020 and will produce up to 120,000 barrels of oil per day utilising the Liza Destiny floating production storage and offloading (FPSO), which arrived in Guyana on August 29, 2019.
ExxonMobil also stated that it approved funding for the Liza Phase Two development after it received government and regulatory approvals in May 2019. Expected to start up by mid-2022, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels of oil per day. Pending government approvals, a third development, Payara startup could be as early as 2023 and production would reach an estimated 220,000 barrels of oil per day.
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