ExxonMobil has introduced its ninth discovery offshore Guyana on the Hammerhead-1 effectively, marking its fifth discovery on the Stabroek Block prior to now yr and proving a brand new play idea for potential improvement.

Hammerhead-1 encountered roughly 197 ft (60 m) of high-quality, oil-bearing sandstone reservoir. The effectively was safely drilled to 13,862 ft (four,225 m) depth in three,373 ft (1,150 m) of water. The Stena Carron drillship started drilling on July 27, 2018.

“The Hammerhead-1 discovery reinforces the potential of the Guyana basin, the place ExxonMobil is already maximizing worth for all stakeholders via speedy phased developments and accelerated exploration plans,” mentioned Steve Greenlee, president of ExxonMobil Exploration Company. “Development choices for Hammerhead will have in mind ongoing analysis of reservoir knowledge, together with a effectively check.”

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Hammerhead-1 is positioned roughly 13 mi (21 km) southwest of the Liza-1 effectively and follows earlier discoveries on the Stabroek Block at Liza, Liza Deep, Payara, Snoek, Turbot, Ranger, Pacora and Longtail. Those earlier discoveries led to the announcement of an estimated recoverable useful resource of greater than four Bboe found so far, and the potential for as much as 5 floating manufacturing, storage and offloading (FPSO) vessels producing greater than 750,000 bpd by 2025.

There is potential for extra manufacturing from important undrilled targets and plans for speedy exploration and appraisal drilling. A second exploration vessel, the Noble Tom Madden, is because of arrive in Guyana in October to speed up exploration of excessive potential alternatives and can begin drilling on the Pluma prospect roughly 17 mi (27 km) from Turbot.

Liza Phase 1, which is predicted to start producing oil by early 2020, will use the Liza Destiny FPSO vessel to provide as much as 120,000 bopd. Construction of the FPSO and subsea tools is effectively superior. Pending authorities and regulatory approvals, Phase 2 is focused for sanctioning by the top of this yr. It will use a second FPSO designed to provide as much as 220,000 bpd and is predicted to be producing in 2022. A 3rd improvement, Payara, will goal sanctioning in 2019 and use an FPSO designed to provide roughly 180,000 bpd as early as 2023.

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The Stabroek Block is 6.6 million acres (26,800 km2). ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, is operator and holds 45% curiosity within the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% curiosity and CNOOC Nexen Petroleum Guyana Limited holds 25% curiosity.

Source: www.worldoil.com

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