Oct 30, 2020 News
Kaieteur News – Even as ExxonMobil races to execute development plans for the Liza Phase Two and Payara projects on the Stabroek Block in a COVID-19 era, it remains hell-bent on aggressively pursuing exploration in other untapped parts of the offshore concession.
Providing some detail on this during his company’s third-quarter earnings call that was held on Wednesday was Chief Operating Officer (COO) for Hess Corporation, Greg Hill.
He disclosed that ExxonMobil plans to drill the Hassa-1 well that is located 30 miles east of the Liza field.
Hill said that the well would be spud before the end of the year with the results expected in the first quarter of 2021.
Hill, whose company holds a 30 percent stake in the Stabroek Block, said that this well is expected to target the Campanian aged reservoirs.
The Hess official reminded that for the time being, ExxonMobil is carrying out exploration works, in the Kaieteur Block which is adjacent to Stabroek, using the Stena Carron drillship.
It is currently drilling the Tanager-1 well on the Kaieteur Block, approximately 46 miles northwest of Liza. According to Hill, this well, which is the deepest drilled offshore Guyana, is designed to penetrate multiple geologic intervals, including the Campanian, Santonian, and Turonian.
The COO reminded, as well, that it was just last month that its partner and operator of the Stabroek Block, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), announced the final investment decision to proceed with development of the Payara Field.
Payara will utilize the Prosperity floating production storage and offloading (FPSO) vessel, which will have the capacity to produce up to 220,000 gross barrels of oil per day and will initially target a resource base of about 600 million barrels of oil.
First oil is expected in 2024 while 10 drill centers planned with a total of 41 wells, including 20 production wells and 21 injection wells.
Also in September, Hill noted that ExxonMobil had announced the 17th and 18th discoveries on the Stabroek Block, offshore Guyana.
Expounding in this regard, the COO said that the Yellowtail-2 well encountered 69 feet of high quality, oil bearing reservoir, adjacent to and below the Yellowtail-1 discovery. In addition, the Redtail-1 well encountered approximately 232 feet of high quality oil bearing reservoir. The well is located approximately 1.5 miles northwest of the Yellowtail discovery. The Chief Operating Officer said that a drill stem test is planned at Redtail in the fourth quarter.
In conclusion, Hill said that these discoveries further demonstrate the significant exploration potential of the block and contribute to the discovered recoverable resource estimate increasing to approximately nine billion barrels of oil equivalent and will likely form the basis of a fourth development project on the block.
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