GIVEN EXXON’S SUCCESS IN STABROEK BLOCK…TT Energy Chamber lobbies for development of deepwater expertise to service Guyana, other nations

Feb 11, 2019 News

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By Kiana Wilburg

Trinidadian energy stakeholders are currently counting the many ways that they can take advantage of opportunities that will arise from Guyana’s promising oil sector, which features ExxonMobil’s 12 significant discoveries in the Stabroek Block.
One of the ways it envisions servicing Guyana, and even its domestic needs, is by developing deepwater expertise. Just a few days ago, Chairman of Trinidad and Tobago’s Energy Chamber, Eugene Tiah, lobbied for his country to head in this direction.
He was at the time speaking at the recently concluded Energy Conference and Trade show of Trinidad and Tobago. The three-day event was held at the Hyatt Hotel and was also organized by TT’s Energy Chamber, a not for profit, independent, a-political membership organization representative of the major petrochemical companies there.

The Chairman said, “While we focus on those new opportunities in renewables and efficiency, it is also important that we do not lose sight of the opportunities on our doorstep with new hydrocarbon developments. We are seeing a very encouraging deepwater exploration campaign underway in Trinidad, led by BHP, but nothing quite matching the enormous success of Exxon in neighbouring Guyana.
“Trinidad has the potential to develop a much more robust energy services sector, including developing deepwater expertise, by playing the role as a hub for the regional energy services industry, providing expertise and capacity to French Guiana, Suriname, Guyana, Barbados, Grenada and potentially offshore Venezuela.”
He added that this should be a focus of national development and an important element in an overall export diversification thrust.
EXXON’S SUCCESS
Last week, ExxonMobil made two more discoveries, taking its total find to 12.
Delivering the news was Director of Energy, Dr. Mark Bynoe. He said that ExxonMobil made its 11th and 12th discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells in the southwest section of the Stabroek Block.
“This continues to be positive news for the people of the Co-operative Republic of Guyana, but the real substance of these finds will come when all Guyanese are able to benefit from these discoveries, whether directly and/or indirectly,” he said.
In December, Dr. Bynoe announced that ExxonMobil made its 10th discovery offshore Guyana at the Pluma-1 well. That discovery had increased the estimated recoverable resource for the Stabroek Block to more than five billion oil-equivalent barrels.
The Tilapia-1 is the fourth discovery in the Turbot area that includes Turbot, Longtail and Pluma discoveries.
“Tilapia-1 encountered approximately 305 feet (93 metres) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet (5,726 metres) in 5,850 feet (1,783 metres) of water. The well is located approximately 3.4 miles (5.5 kilometres) west of the Longtail-1 well,” Dr. Bynoe disclosed.
“The rate of these finds remains well above industry standards and continues to allow for further de-risking of the deep and ultra-deep one, but we still have a substantial way to go before we can confidently say the one has been de-risked,” Dr. Bynoe said.
He noted that the Noble Tom Madden drillship started drilling the well on January 7, 2019 and will next drill the Yellowtail-1 well, approximately six miles (10 kilometres) west of Tilapia-1 in the Turbot area. The Baseline 4-D seismic data acquisition is underway.
The 12th discovery at the Haimara-1 well, encountered approximately 207 feet (63 metres) of high-quality gas condensate-bearing sandstone reservoir. The well was drilled to a depth of 18,289 feet (5,575 metres) in 4,590 feet (1,399 metres) of water.
“The Department continues to work assiduously with its partner institutions towards setting the requisite framework in place to ensure the benefits from these discoveries redound to the benefit of all Guyanese,” the Director added.
Located approximately 19 miles (31 kilometres) east of the Pluma-1 discovery, the Haimara -1 had been deemed a potential new area for development. The Stena Carron drillship began drilling that well on January 3, 2019.
Dr. Bynoe noted too that 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 daily by 2025.
ExxonMobil is preparing to start Guyana’s first oil production as early this year-end with the Liza Destiny floating vessel to arrive after the first half of the year.
The offshore discovery is said to be one of the biggest in the world.

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