Exxon affiliate to drill new oil well in Stabroek Block soon

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-MARAD calling on vessels to avoid area

Esso Exploration and Production Guyana Ltd (EEPGL), an affiliate of oil giant ExxonMobil, is slated to commence a three-month drilling operation at a new well within the Stabroek Block.

This was revealed following a notice from the Guyana Maritime Administration Department (MARAD). It is understood that drilling of the well, dubbed the Ranger=1 Well Site, will commence from October 11.

The Stena Carron drill ship

The Department noted that there would be five vessels partaking in the operation which would be displaying the relevant international signal for oil exploration: the Stena Carron; the MV Cat Island; the MV Fast Titan; the MV Hannah Chouest and the HOS Commander.

The drill site, according to MARAD, is 160 nautical miles from Guyana’s coast and covers a square kilometre. The coordinates, the Department noted, are 08 degrees, 56.340’, 08 degrees, 56.340’, 08 degrees, 55.250’ and 08 degrees 55.250’ at Latitude North.

At Longitude West, the coordinates were 057 degrees, 18.680’, 057 degrees, 17.590’, 057 degrees, 17.590’ and 057 degrees, 18.680’. These are all in Zone 21.

Urging that ordinary vessels in the zone stay clear of the operation and these vessels, MARAD also encouraged vessels to navigate with caution when in the vicinity and to radio on VHF Ch. 16 or via the Georgetown Lighthouse.

Drilling has consistently encountered oil reservoirs since ExxonMobil’s 2015 oil find in Guyana. In May of that year, Exxon confirmed that more than 295 feet of high-quality oil-bearing sandstone reservoirs was encountered at its Liza 1 exploration well.

In late June 2016, Exxon’s drilling results at Liza 2 revealed more than 58 metres of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 5475 metres at 1692 metres water depth. Drilling results confirmed recoverable resources to be between 800 million and 1.4 billion barrels of oil equivalent. Data from the Liza 2 well test is being assessed.

The company had announced that it made its third significant discovery in its drilling explorations offshore Guyana. Its partner, Hess Corporation, had noted that the Liza 3 exploratory well’s net value could be US$6.2 billion based on calculations from the Bank of Montreal (BMO) Capital Markets.

Drilling on Payara began on November 12, 2016, with initial total depth reached on December 2, 2016.

In January of this year, the oil giant had announced it had struck oil in its Payara-1 well, targeting the same type of reservoirs as the well’s Liza counterpart. The lesser known Orinduik oil block has been under the administration of Eco Guyana and Tullow, after they signed a 10-year Petroleum Prospecting Licence and Production Sharing Agreement with Government last year. (Jarryl Bryan)

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