Eco Atlantic still searching for new partner for Orinduik Block

Jul 31, 2025 News

…highlights Exxon’s move for 7th project as positive

Eco Atlantic still searching for new partner for Orinduik Block

Map showing the location of the Orinduik Block

Kaieteur News – In an update on its global operations, Canadian Exploration Company, Eco (Atlantic) Oil & Gas Ltd said it’s still seeking a partner for the Orinduik Block, located offshore Guyana.

On Wednesday, Eco issued its Audited Results for the Year Ended 31 March 2025 and Operational Update. In that report the company stated, “An active farmout process continues for the offshore Orinduik Block.” It should be noted, that the oil company had long disclosed that it has initiated a formal farm-out process to attract partners for the next phase of exploration in the Orinduik Block.

This publication reported on June 22, that Eco has until January 2026 to drill an exploration well on Orinduik Block, in keeping with its petroleum agreement. The company disclosed that as operator, it entered the Second Phase of the Second Renewal Period of the Orinduik License on January 14, 2024. This phase requires the drilling of one exploration well targeting the Cretaceous formation before the license term ends on January 13, 2026.

The block, covering 1,354 square kilometers and located approximately 170 kilometers offshore Guyana is adjacent to the prolific Stabroek Block which is operated by ExxonMobil Guyana Limited that is estimated to hold 11.6 billion barrels of oil.

Eco had disclosed that it is advancing plans for a 2025 drilling campaign at the Orinduik Block offshore Guyana, targeting stacked Cretaceous reservoirs similar to those found in the prolific Stabroek Block. In the recent statement, Eco added that it was encouraged by recent developments next door in the Stabroek Block, where ExxonMobil is preparing for a seventh oil development at the Hammerhead discovery.

Exxon is the operator of the Stabroek Block. To date, oil production has grown to 650,000 barrels per day (bpd) from three sanctioned projects: Liza Phase 1, Liza Phase 2, and Payara. This output is expected to increase with the upcoming start-up of Yellowtail, the fourth development, later this year. Notably, Exxon has two other sanctioned projects under its belt: Uaru and Whiptail. It has also submitted an Environmental Impact Assessment (EIA) for its seventh project, Hammerhead, with production targeted for 2029. Additionally, the company has filed an application for an eighth development, Longtail.

For his part, Gil Holzman, President and Chief Executive Officer (CEO) of Eco Atlantic said, “Guyana continues to be one of the most prolific hydrocarbon regions in the world, and our farm-out process for the Orinduik Block remains ongoing, including a reassessment by our team of the Jethro discovery parameters.”

Notably, the Orinduik Block has already demonstrated a working petroleum system, with two confirmed discoveries—Jethro-1 and Joe-1—made in 2019 in the Lower and Upper Tertiary formations. While both finds contained heavy oil, further analysis is ongoing to determine development feasibility. The company has said it continues to evaluate discoveries while assessing deeper Cretaceous prospects, which are believed to hold potential for lighter crude.

Holzman added, “The remainder of 2025 and into 2026 has the potential to be a highly exciting period for Eco. We have farm-out processes underway, data analysis ongoing and a drilling campaign to plan for. All of which has the potential to deliver significant value for all of Eco’s stakeholders in due course.”

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Exploration, Exxon, farmout, oil, Orinduik

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