Sunday, January 26, 2020

ExxonMobil announces 13th discovery offshore Guyana

Featured

Coronavirus: 52 dead and 129 severe cases with 15 countries confirms infection

Coronavirus update: Russian Deputy Minister of Health, Oleg Salagay, confirmed on Saturday evening, that 7 new cases of Corona...

Corona virus can trigger next pandemic, after swine flu

World Health Organization (WHO) reported at least two new outbreaks with Corona virus that could have serious consequences for...

Trump at Davos: The American economy is in the midst of biggest boom

US President Donald Trump gave a brilliant picture of the state of the US economy and its presidency in...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

ExxonMobil made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major development hub.

“Similar to the Liza area, successive discoveries in the Turbot area have continuously grown its shared value,” said Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures. “Our success here can be attributed to our industry-leading upstream capabilities, the strength of our partnerships and our ongoing commitment to growing Guyana’s offshore potential.”

Oil discovery at Yellowtail-1 well is fifth discovery in Turbot area

Yellowtail-1 encountered approximately 292 feet (89 meters) of high-quality oil bearing sandstone reservoir and was drilled to a depth of 18,445 feet (5,622 meters) in 6,046 feet (1,843 meters) of water. The well is located approximately 6 miles (10 kilometers) northwest of the Tilapia discovery. The Noble Tom Madden began drilling the Yellowtail well on March 27. It will next drill the Hammerhead-2 well.

Exploration and development activities continue at other locations on the Stabroek Block. The Stena Carron is currently completing a well test at the Longtail-1 discovery and upon completion will next drill the Hammerhead-3 well. Later in 2019, the Stena Carron will drill a second well at the Ranger discovery. The Noble Bob Douglas drillship is currently completing development drilling operations for the Liza Phase 1 development. ExxonMobil is also evaluating plans to add another exploration drillship, bringing the number of drillships offshore Guyana to four.

Turbot area expected to become major development hub

ExxonMobil has previously said there is potential for at least five floating production, storage and offloading (FPSO) vessels on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025. Startup of the Liza Phase 1 development is on track to begin by the first quarter of 2020 and will produce up to 120,000 barrels of oil per day utilizing the Liza Destiny FPSO, which is expected to arrive in country in the third quarter.

Liza Phase 2 is expected to startup by mid-2022. A final investment decision is expected soon subject to government and regulatory approvals. Upon approval, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels per day. Sanctioning of a third development, Payara, is also expected in 2019, with startup projected for 2023.

Adds to previously estimated 5.5 billion barrels of discovered recoverable resource

The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Coronavirus: 52 dead and 129 severe cases with 15 countries confirms infection

Coronavirus update: Russian Deputy Minister of Health, Oleg Salagay, confirmed on Saturday evening, that 7 new cases of Corona...

Canada denies having confirmed cases of coronavirus among its citizens

Canadian public health officials said Thursday that there are no confirmed cases in Canada of infection with the new coronavirus, which has killed more...

US states filed suit against White House to allow 3D printing of weapons

Twenty US States have taken legal action against White House to block the country's latest attempt to authorize plans to make 3D printing of...

Coronavirus: Death toll in China has risen to 25

The death toll from coronavirus outbreaks has risen to 25, with the number increasing to 830 cases. The National Health Commission said authorities were also...

Did Prince Charles “snub” Mike Pence? Buckingham refutes any diplomatic incident

Prince Charles did not snub US Vice President Mike Pence in Jerusalem on Thursday at the ceremony marking the 75th anniversary of the liberation of...

Related News