ExxonMobil finds more oil with Payara-2 well off Guyana

ExxonMobil Corp.’s Payara-2 well offshore Guyana, drilled to 5,812 m in 2,135 m of water, encountered 18 m of “high-quality, oil-bearing sandstone,” the operator said.

The result increases the total Payara discovery to 500 million boe and the estimated gross recoverable resource for the 26,800-sq-km Stabroek block to 2.25-2.75 billion boe, the company said.

ExxonMobil in January reported that the Payara-1 well encountered 29 m of “high-quality, oil-bearing sandstone reservoirs” as it was drilled to 5,512 m in 2,030 m of water (OGJ Online, Jan. 12, 2017).

Payara-2 lies 20 km northwest of the Liza Phase 1 project, which received a final investment decision in June (OGJ Online, June 16, 2017).

“Payara-2 confirms the second giant field discovered in Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Co. “Payara, Liza, and the adjacent satellite discoveries at Snoek and Liza Deep will provide the foundation for world-class oil developments and deliver substantial benefits to Guyana. We are committed to continue to evaluate the full potential of the Stabroek block.”

ExxonMobil in March found 25 m of “high-quality, oil-bearing sandstone reservoirs” with its Snoek well in the southern portion of Stabroek (OGJ Online, Mar. 30, 2017).

Esso Exploration & Production Guyana Ltd. is operator and has 45% interest in Stabroek. Hess Guyana Exploration Ltd. holds 30% and CNOOC Nexen Petroleum Guyana Ltd. holds 25%.