Following its two most recent finds, ExxonMobil yesterday revised its estimated gross recoverable resource from the Stabroek Block to approximately 5.5 billion oil-equivalent barrels.
On December 3rd, when the company announced its tenth find, it had increased its estimate for the Stabroek Block to more than 5 billion oil-equivalent barrels.
“ExxonMobil has announced an increase to the estimated gross recoverable resource from the Stabroek Block offshore Guyana to approximately 5.5 billion oil-equivalent barrels. This estimated resource update includes the recent Tilapia-1 and Haimara-1 discoveries,” Deedra Moe, Senior Director, Public and Government Affairs, said in a company statement.
The statement also noted that exploration activity in the Stabroek Block is continuing. “The Noble Tom Madden drillship will next drill the Yellowtail-1 well, approximately six miles (10 kilometers) west of Tilapia-1 in the Turbot area. The Stena Carron will next return to the Longtail discovery to complete a well test. Baseline 4-D seismic data acquisition is also underway,” it said.
It also reiterated that there is potential for at least five floating, production storage and offloading (FPSO) vessels in the Stabroek Block producing more than 750,000 barrels of oil per day by 2025.
According to the statement, the company’s Liza Phase 1 development is progressing on schedule and is expected to begin producing up to 120,000 barrels of oil per day in early next year, utilizing the Liza Destiny FPSO.
The company added that it is awaiting government and regulatory approvals of the Liza Phase 2 project and pending these approvals the company will use a second FPSO, designed to produce up to 220,000 barrels per day. Start-up is expected by mid-2022 even as a third development, Payara, is being planned, with its startup expected as early as 2023.
According to Exxon’s project overview of works in the Stabroek Block, the Liza-1 well discovery was announced in May, 2015. The Liza-2 well was drilled and tested in July, 2016, while the Liza-3 well was drilled in October, 2016, confirming a world-class resource discovery in excess of 1 billion oil-equivalent barrels. (Appraisal drilling at Liza-3 identified an additional high quality deeper reservoir directly below the Liza field, which is estimated to contain resources between 100 and 150 million oil-equivalent barrels.) The Liza-4 well was drilled in March, 2017 and more than 197 feet of high-quality, oil-bearing sandstone reservoirs were identified, which will underpin a potential Liza Phase 2 development.
Skipjack-1 was drilled in September 2016; this did not encounter commercial quantities of hydrocarbons.
The Payara-1 well discovery was announced in January, 2017. Payara was drilled in a new reservoir and more than 95 feet of high quality, oil bearing sandstone reservoirs were encountered. The Payara-2 well discovery was announced in July, 2017; Payara-2 encountered 59 feet (18 meters) of high-quality, oil-bearing sandstone reservoirs. The Payara discovery is estimated at approximately 500 million oil-equivalent barrels.
The Snoek-1 well discovery was announced in March, 2017. It was drilled in a new reservoir, where 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoir were encountered. The Turbot-1 well discovery was announced in October, 2017 and it was noted that approximately 75 feet (23 meters) of high-quality, oil-bearing sandstone reservoir were encountered.
The Ranger-1 well discovery was announced in January, 2018. Ranger is ExxonMobil’s sixth oil discovery in the Stabroek Block and was drilled in a new reservoir, where approximately 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir were encountered.
The Pacora-1 well discovery was announced in February, 2018. Pacora is ExxonMobil’s seventh oil discovery in the Stabroek Block and was drilled in a new reservoir where approximately 65 feet (20 meters) of high-quality, oil-bearing sandstone reservoir were encountered. The Sorubim-1 was drilled in April of this year but this well did not yield commercial quantities of hydrocarbons.
One month after, on May 25th, drilling at the Longtail well began and in June it was announced that 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir had been found.
Hammerhead-1, the ninth well discovery was announced in August, 2018. It was drilled in a new reservoir, where approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir were encountered.
Four months after, the tenth discovery in the Pluma-1 well was announced December 2018. Pluma was drilled in a new reservoir — encountering approximately 121 feet (37 meters) of high-quality hydrocarbon-bearing sandstone reservoir
The company announced the eleventh and twelfth wells, the Tilapia-1 and Haimara-1, on February 6th, this year. With regards to Tilapia-1, it said that approximately 305 feet (93 meters) of high-quality oil-bearing sandstone reservoir were encountered, while for Haimara-1 approximately 207 feet (63 meters) of high-quality, gas-condensate bearing sandstone reservoir were encountered.
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% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.
