More oil discovery for GuyanaWednesday, June 09, 2021
GEORGETOWN, Guyana (CMC) — The Guyana government on Wednesday welcomed the latest oil discovery, saying it will add to the previously announced gross discovered recoverable resource for the Stabroek Block offshore, which is currently estimated to be over nine billion oil-equivalent barrels.
The Stabroek Block is 6.6 million acres (26,800 square kilometres). 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 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 per cent interest.
“The government of Guyana anticipates that this new development will further increase the potentials for more floating production storage and offloading vessels (FPSO). Additionally, this will increase the estimated recoverable resource given by the operator, Esso Exploration and Production Guyana Limited (EEPGL).
“As such, the ministry and the petroleum sector regulatory agencies will continue to work with other operators to expedite their drill programme as we seek to expand the sector,” Minister of Natural Resources Vickram Bharrat said in a statement following the announcement by the US oil giant, ExxonMobil that it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana.
Exxon said that drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals.
The well is located approximately two miles (3.5 kilometres) south of the Longtail-1 well. It was drilled in more than 6,100 feet (1860 metres) of water by the Stena DrillMAX.
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