With an additional well already planned for 2018, ExxonMobil Corp. has completed its Turbot-1 well in the southeastern portion of the Stabroek block, about 30 miles southeast of the Liza Phase 1 project. The Stena Carron, which spudded Turbot-1 on Aug. 14, is moving to the Ranger prospect.
The Turbot-1 well encountered 75 ft of high-quality, oil-bearing sandstone in its primary objective, the operator said. The well was drilled to 18,445 ft in 5,912 ft of water.
In July, ExxonMobil reported the 500 million-boe Payara discovery, which is northwest of the Liza Phase 1 project (OGJ Online, July 25, 2017). At the time, the company estimated the 26,800-sq-km Stabroek block to contain 2.25-2.75 billion boe in recoverable resources.
Guyana does not currently produce any oil, therefore ExxonMobil’s latest discovery puts the country on the map for future offshore exploration. Pablo Medina, Wood Mackenzie Ltd.’s senior analyst, Latin America upstream, said, “We expect around 350,000-400,000 b/d of oil production by 2026, making Guyana one of top oil producers in Latin America.”
Contact Tayvis Dunnahoe at [email protected].
