ExxonMobil discovers more high-quality reservoirs in Stabroek Block

ExxonMobil discovers more high-quality reservoirs in Stabroek Block

Friday, July 31, 2020

Print this page Email A Friend!


GEORGETOWN, Guyana (CMC) — Two more high-quality oil reservoirs have been discovered by US oil giant ExxonMobil, in Guyana's Stabroek Block.

This was reported on Wednesday and confirms that recent drilling operations to appraise the size of a previous discovery had identified two additional high-quality reservoirs.

As a result of COVID-19 , travel restrictions in Guyana had forced ExxonMobil to temporarily idle two drillships in the country's waters. However, the oil company had resumed drilling operations by the end of the second quarter.

“The Stena Carron rig recently completed appraisal drilling at Yellowtail-2, located one mile south-east of Yellowtail-1. The well-identified two additional high-quality reservoirs, one adjacent to, and the other below the Yellowtail Field, further demonstrating the world-class quality of this basin. This additional resource is currently being evaluated and will help form the basis for potential future development,” Hess said in its quarterly report.

In July, the Noble Don Taylor drillship began drilling off the Redtail exploration well, which is 1.25 miles north-west of the Yellowtail-1 discovery. The other two drillships, the Noble Bob Douglas and the Noble Tom Madden, are drilling and completing Liza Phase 1 and Phase 2 development wells.

Meanwhile, the Inter-American Development Bank (IDB) has stated that despite the current circumstances due to the global pandemic, local political situation and fall in oil prices earlier this year, Guyana's outlook remains positive due to the volume of expected oil production.

In its Caribbean Quarterly Bulletin report, the IDB noted that while the decline in oil prices have contributed to updated estimates for Guyanese oil exports, government revenues, and GDP growth, the revised figures still show a remarkable growth for the industry.


Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaper-login


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT