While the 6.6 million acres Stabroek Block remains the largest license under exploration and development in Guyana where the motherload of commercial hydrocarbons have been found, one expert says it is almost certain that substantial discoveries will eventually be made at the adjacent blocks.
“I think that there definitely is going to be commercial finds outside the Stabroek Block. I think Stabroek Block is of course the most promising block that we’ve seen, and that’s where we have the most advanced data that helps kind of reinforce these finds, because once you draw one successful commercial well in one area it’s much easier to draw another one because you see what works and what didn’t work,” Arthur Deakin, Co-Director at Americas Market Intelligence (AMI) Energy Practice told OilNOW in a recent interview.
U.S. oil major ExxonMobil, operator of the Stabroek Block, has drilled wells at the neighbouring Canje and Kaieteur Blocks but while some of these campaigns have encountered hydrocarbons, none have been considered commercial as a standalone discovery. Other operators have also spudded wells at adjacent blocks but with a mixed bag of results comprising non-commercial and heavy oil finds.
Why is finding oil outside of Stabroek block proving to be so challenging?
“My gut, and research from other similar situations tell me there’s definitely going to be substantial commercial finds outside of the Stabroek Block,” Deakin said.
Explorer believes eastern portion of Orinduik block can deliver significant volumes
Exxon will be carrying out multiple exploration drill campaigns at the Kaieteur and Canje Blocks next year as the oil major ramps up efforts to hit commercial crude outside of the prolific Stabroek Block where it has found around 10 billion barrels of oil equivalent since 2015.
Meanwhile, CGX Energy resources is nearing completion of the Kawa-1 prospect on the Corentyne Block. The company said in October that close to 70% of drilling had been completed targeting Campanian and Santonian stacked sandstone reservoirs, analogous to the discoveries on Block 58 in Suriname and potential deeper discoveries in the Stabroek Block in Guyana.
