ExxonMobil makes ninth deepwater oil discovery off Guyana

ExxonMobil and its partners have achieved a ninth oil discovery in the deepwater Stabroek block offshore Guyana.

Stena Carron drillship offshore Guyana
Stena Carron drillship offshore Guyana

Offshore staff

IRVING, Texas – ExxonMobil and its partners have achieved a ninth oil discovery in the deepwater Stabroek block offshore Guyana.

This marks the fifth discovery on the Stabroek block in the past year and proves a new play concept for potential development.

Hammerhead-1 encountered about 197 ft (60 m) of high-quality, oil-bearing sandstone reservoir. The drillshipStena Carron drilled the well to 13,862 ft (4,225 m) depth in 3,373 ft (1,150 m) of water.

Hammerhead-1 is about 13 mi (21 km) southwest of theLiza-1 well and follows previous discoveries on the Stabroek block at Liza, Liza Deep, Payara, Snoek, Turbot, Ranger, Pacora, and Longtail. These previous discoveries are estimated to contain gross recoverable resources of more than 4 Bboe and have established the potential for up to five FPSOs producing more than 750,000 b/d by 2025.

There is potential, ExxonMobil said, for additional production from significant undrilled targets and plans for rapid exploration and appraisal drilling. A second drillship, theNoble Tom Madden, is due to arrive in Guyana in October to accelerate exploration of high potential opportunities and will start drilling at the Pluma prospect about 17 mi (27 km) from Turbot.

Liza Phase 1, which is expected to start-up by early 2020, will use the FPSO Liza Destiny to produce up to 120,000 b/d of oil. Construction of the FPSO and subsea equipment is well advanced.

Pending government and regulatory approvals,Phase 2 is targeted for sanctioning by the end of this year. It will use a second FPSO designed to produce up to 220,000 b/d and is expected to start-up in 2022.

A third development, Payara, will target sanctioning in 2019 and use an FPSO designed to produce about 180,000 b/d as early as 2023.

ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., is operator and holds 45% interest in the 6.6-million-acre (26,800-sq km) Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Ltd. holds 25% interest.

08/30/2018

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