Exxon already onto two more deepwater oil wells

Jul 28, 2022 News

Kaieteur News – After announcing two more major discoveries in the Stabroek Block on Tuesday, ExxonMobil and its partners are onto another two exploration wells with high hopes for similar success.

Next up in the queue are Yarrow and Banjo. According to Hess Corporation during its earnings call for the 2022 second quarter, the Yarrow-1 well will test stacked Upper Campanian targets, up-dip of discoveries at Whiptail and Tilapia. The well is located 19 miles south of the Yellowtail 1 discovery well.

Hess, which holds a 30 percent working interest in the block said the Banjo-1 well will also target stacked Upper Campanian targets west of Barreleye and up-dip of Mako. The well is located 8 miles northwest of the Barreleye-1 discovery well. Kaieteur News understands that these wells will appraise the development potential of the inboard oil play in the southeast portion of the block.

This newspaper reported that the two new discoveries on the Stabroek Block are the Seabob-1 and the Kiru-Kiru-1. The discoveries are the sixth and seventh in Guyana this year, with the total number of commercial discoveries in Guyana now at 33.

The Seabob-1 well encountered 131 feet of high quality oil bearing Upper Campanian sandstone reservoirs. It is located in the southeastern part of the block, approximately 12 miles southeast of the Yellowtail Field.

The Kiru- Kiru-1 well has thus far encountered 98 feet of high quality hydrocarbon bearing Upper Campanian sandstone reservoirs. The well is currently drilling ahead to test deeper intervals and is located in the southeastern part of the block, approximately three miles southeast of the Cataback-1 discovery. Both discoveries will add to the gross discovered recoverable resource estimate for the block of approximately 11 billion barrels of oil equivalent.

Thus far, two floating production storage and offloading (FPSO) vessels operating offshore Guyana — Liza Destiny and Liza Unity — have exceeded their initial combined production target of 340,000 barrels of oil per day.

A third project, Payara, is expected to produce 220,000 barrels per day. Construction on its production vessel, the Prosperity FPSO, is approximately five months ahead of schedule with start-up likely before year-end 2023.

The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the ONE GUYANA FPSO comes online in 2025. Guyana’s 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 in the block. Hess Guyana Exploration Ltd. holds 30 percent interest, and CNOOC Petroleum Guyana Limited holds 25 percent interest.

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Exxon already onto two more deepwater oil wells

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