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Govt. predicts need for more FPSOs with new oil finds in Stabroek Block
Kaieteur News – The Stabroek Block continues to prove to be a prolific oil and gas basin with Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—yesterday announcing two new finds for a total of 22 discoveries by the US oil major in Guyana’s waters.
The Stena DrillMAX that spud the successful Whiptail-1 oil well in the Stabroek Block.
According to the oil company, the drilling activities at its Whiptail-1 well encountered 246 feet (75 meters) of net pay “from high quality oil bearing sandstone reservoirs.”
It noted too that “drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high quality oil bearing sandstone reservoirs.”
As such, the company in making its announcement iterated that drilling continues at both wells to test deeper targets, and results will be evaluated for future development.
The new discoveries add to the previous recoverable resource estimate of approximately nine billion oil equivalent barrels.
The news was met with elation by Subject Minister, Vickram Bharrat, who in a subsequent public missive said, “It gives me great pride as the Minister of Natural Resources with responsibility for the Petroleum Sector and on behalf of the Government of Guyana, to announce Guyana’s 21st and 22nd Offshore Oil Discovery at the Whiptail-1 and Whiptail-2 Wells within the Stabroek Block offshore.”
According to Minister Bharrat, as with discoveries prior, the Government of Guyana foresees this new development increasing the potential for additional floating production storage and offloading vessels (FPSO).
“This is further set to increase the estimated recoverable resource given by the operator, EEPGL…In this regard, the Ministry and the Petroleum Sector regulatory agencies remain committed to working with all operators, in efforts to expedite their respective drill programmes as we seek the sector’s expansion.”
He was adamant that government welcomes these new discoveries Offshore Guyana and reinforces its commitment to the sustainable exploration and development of Guyana’s Oil and Gas Resources. “This we commit to do with the highest level of compliance and transparency to ensure that the benefits from this sector improve the lives of all Guyanese.”
The Whiptail discovery is located approximately four miles southeast of the Uaru-1 Well.
That successful discovery was announced in January 2020 and approximately three miles west of the Yellowtail field.
Whiptail-1, according to the company, “is being drilled in 5,889 feet (1,795 meters) of water by the Stena DrillMAX. Whiptail-2, which is located three miles northeast of Whiptail-1, is currently being drilled in 6,217 feet (1,895 meters) of water by the Noble Don Taylor.”
According to ExxonMobil, there are more than 2,600 Guyanese supporting oil and gas activities in the country. In January last, ExxonMobil had announced its Longtail-3 well discovery, which encountered 230 feet (70 meters) of net pay, including newly, identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery.
ExxonMobil said at the time, that the well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well and was drilled in more than 6,100 feet (1,860 meters) of water by the Stena DrillMAX. It should be noted that the Longtail-1 well was drilled in 2018, encountering approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir.
At the time, Senior Vice President of Exploration and New Ventures at ExxonMobil, Mike Cousins, intimated that combined with its previous recent discovery at the Uaru-2 well, the resource estimate at the Stabroek Block is well beyond nine billion barrels of oil equivalent resources.
The company announced its first discovery in 2015 when it hit pay dirt in the Stabroek Block at its Liza I wells and has since made a record 21 more commercial discoveries.
Production from the Stabroek Block began in December 2019 and continues to date with a second Floating, Production, Storage and Offloading Vessel—the Liza Unity—set to arrive in Guyana later this year to commence production from its Liza II discovery.
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