ExxonMobil Corp. reported a new oil discovery offshore Guyana with the Yellowtail-1 well in Stabroek block, bringing the total discoveries on that block to 13 and adding to an estimated recoverable resource of 5.5 billion boe.
Yellowtail-1, the fifth discovery in the Turbot area that includes Tilapia, Turbot, Longtail, and Pluma discoveries, is expected to become a major development hub, the company said in a press statement.
Yellowtail-1 encountered 292 ft of oil-bearing sandstone reservoir and was drilled to 18,445 ft in 6,046 ft of water. The well is about 6 miles northwest of the Talapia discovery (OGJ Online, Feb. 6, 2019).
“Similar to the Liza area, successive discoveries in the Turbot area have continuously grown its shared value,” said Mike Cousins, senior vice-president of ExxonMobil exploration and new ventures.
The Noble Tom Madden drillship began drilling Yellowtail-1 on Mar. 27 and will next drill the Hammerhead-2 well.
Exploration and development activities continue at other locations on the block. The Stena Carron is completing a well test at the Longtail-1 discovery and upon completion will drill Hammerhead-3. Later this year, the Stena Carron will drill a second well at the Ranger discovery. The Noble Bob Douglas drillship is completing development drilling operations for the Liza Phase 1 development. The company is evaluating plans to add another exploration drillship, bringing the number of drillships offshore Guyana to four.
ExxonMobil is considering using at least five floating production, storage, and offloading vessels on the Stabroek block, expected to produce more than 750,000 b/d by 2025. The Liza Phase 1 development is expected to produce as much as 120,000 b/d in early 2020 via the Liza Destiny FPSO (OGJ Online Dec. 28, 2018).
Liza Phase 2 is expected to start by mid-2022. Pending government and regulatory approvals, sanctioning is expected in this year’s first quarter. Liza Phase 2 use a second FPSO designed to produce up to 220,000 b/d. Sanctioning of a third development, Payara, also is expected with start up as early as 2023.
Stabroek block is 6.6 million acres. Esso Exploration & Production Guyana Ltd. is operator with 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Ltd., a wholly owned subsidiary of CNOOC Ltd., holds 25% interest.