Stabroek Block Bounty Off Guyana Gets Bigger
ExxonMobil and its partners now believe they have discovered 11 billion BOE.
The partners in the prolific Stabroek Block have again increased the gross discovered recoverable resource estimate for the area offshore Guyana. The owners now believe they have discovered reserves of at least 11 billion BOE, up from the previous estimate of more than 10 billion BOE. The updated resource estimate includes three new discoveries on the block at Barreleye, Lukanani, and Patwa in addition to the Fangtooth and Lau Lau discoveries announced earlier this year.
The Barreleye-1 well encountered approximately 70 m of hydrocarbon-bearing sandstone reservoirs of which 16 m is high-quality oil-bearing. The well was drilled in 1170 m of water and is located 32 km southeast of the Liza field.
The Lukanani-1 well encountered 35 m of hydrocarbon-bearing sandstone reservoirs of which approximately 23 m is high-quality oil-bearing. The well was drilled in water depth of 1240 m and is in the southeastern part of the block, approximately 3 km west of the Pluma discovery.
The Patwa-1 well encountered 33 m of hydrocarbon-bearing sandstone reservoirs. The well was drilled in 1925 m of water and is located approximately 5 km northwest of the Cataback-1 discovery.
“These new discoveries further demonstrate the extraordinary resource density of the Stabroek Block and will underpin our queue of future development opportunities,” said John Hess, chief executive of Hess and a partner in Stabroek.
The co-venturers have sanctioned four developments to date on Stabroek with both Liza and Liza Phase 2 on stream. The third planned development at Payara is ahead of schedule and is now expected to come on line in late 2023; it will utilize the Prosperity FPSO with a production capacity of 220,000 BOPD. The fourth development, Yellowtail, is expected to come on line in 2025, utilizing the ONE GUYANA FPSO with a production capacity of 250,000 BOPD of oil.
At least six FPSOs with a production capacity of more than 1 million gross BOPD are expected to be on line on the Stabroek Block in 2027, with the potential for up to ten FPSOs to develop gross discovered recoverable resources.
The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest; Hess Guyana Exploration holds 30% interest; and CNOOC Petroleum Guyana Limited holds 25%.