ExxonMobil Discovers More Oil in Guyana’s Stabroek Block
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ExxonMobil and its partners have made an oil discovery offshore Guyana following the drilling of the Pacora-1 exploration well in the Stabroek Block.
After drilling for nearly one month using the Stena Carron drillship, ExxonMobil encountered nearly 65ft of oil-bearing sandstone reservoir at 18,363ft depth in 6,781ft of water.
Located about 6.4kms west of the Payara-1 well, Pacora-1 is the seventh discovery made on the Stabroek block after Liza, Payara, Liza Deep, Snoek, Turbot and Ranger.
ExxonMobil Exploration President Steve Greenlee said: “This latest discovery further increases our confidence in developing this key area of the Stabroek Block.
“Pacora will be developed in conjunction with the giant Payara field, and along with other phases, will help bring Guyana production to more than 500,000 barrels per day.”
The Payara field is being planned as the third development project for the partners offshore Guyana and it will include the Pacora resources.
ExxonMobil is the operator of the Stabroek Block through its affiliate Esso Exploration and Production Guyana, which holds a stake of 45 percent. Hess through its subsidiary Hess Guyana Exploration holds a stake of 30 percent while the remaining 25 percent is held by CNOOC Nexen Petroleum Guyana.
Last month, ExxonMobil and partners made an oil discovery by drilling the Ranger-1 exploration well, following which they encountered about 230ft of oil-bearing carbonate reservoir.
The partners have planned for more drilling this year on the Stabroek Block using Stena Carron.
Having completed the Pacora-1 well, the drillship will proceed to the Liza Field for the drilling of the Liza-5 well to complete a well test. The results from the well test will be used to assess concepts for the Payara development.
The Stena Carron drillship after completing Liza-5 will take up further exploration and appraisal drilling on the Stabroek Block.
In June 2017, ExxonMobil made a final investment decision to move ahead with the first phase of development for the Liza field.
Source: Energy Business Review
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