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Exxon going deeper into Stabroek Block to tap multi-billion barrel potential
Kaieteur News – For 2022, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) will be drilling deeper into several areas in the Stabroek Block to hopefully tap more of the multi-billion barrel potential of the block.
Greg Hill, Chief Operating Officer at Hess Corporation
This was revealed during the 2021 fourth quarter earnings call of Hess Corporation which has a 30 percent working interest in the block.
During the call held Wednesday last, Hess was asked to provide shareholders with a few details on the oil to gas ratio as well as the oil quality of its Fangtooth discovery made earlier last month. The Fangtooth-1 well encountered approximately 164 feet (50 metres) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 metres) of water and is located approximately 11 miles (18 kilometres) northwest of the Liza field.
Hess’ Chief Operating Officer (COO) Gregory Hill said, “I guess the first thing I’d say is the positive results at Fangtooth which was our first standalone deep exploration prospect, …has very good oil quality, and it confirms the deeper exploration potential of the Stabroek Block. So in the coming months, we’re going to complete the analysis of that well, the Fangtooth well and then plan appraisal activities to really determine the best development approach.”
He continued, “So generally, we see these deeper zones as being developed through a combination of standalone developments and tiebacks potentially to existing FPSOs (floating, production, storage and offloading vessels). So very encouraged, very pleased by the results we saw at Fangtooth.”
Hill also reminded shareholders that Exxon and its partners had other penetrations prior to Fangtooth into those deeper zones that confirmed their perspectives about the multi-billion barrel potential of the much deeper plays.
“So we’re very excited. That’s why we’re going to drill a lot more wells in kind of the deeper prospectivity this year than years past. And so watch this space, but we’re encouraged by the outcome in particular about Fangtooth,” the COO stated.
Questioned to speak about the well targets for 2022, Hill was keen to outline that the objectives of this year’s programme is to get more penetrations in the deeper parts of the block.
“So the deep penetrations that we’re going to be watching closely, and these are wells that we’re going to spud in the first quarter are Barreleye-1 which is a lower Campanian primary target, but it’s also got some shallower things as well. And then Tarpon-1 which is another lower Campanian well plus deeper Jurassic carbonate feature that we see,” expressed the COO.
Other targets, he said, include Lukanani-1 and Patwa-1. Overall, Hill told shareholders they can expect to see a very rich mixture of play types. “They’re all significant in this year’s programme. They’re all very promising wells on seismic,” the Hess official concluded.
The Stabroek Block is 6.6 million acres (26,800 square kilometres). ExxonMobil affiliate, Esso Exploration and Production Guyana Limited is the operator and holds 45 percent interest. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.
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