22 C
Georgetown
Saturday, October 24, 2020

Further drilling will determine size of Turbot discovery – ExxonMobil

Must Read

North American oil and gas bankruptcy debt to blow past US$100 billion

The impact of the coronavirus pandemic continues to take its toll on the global oil and gas industry with...

Unity, Prosperity FPSOs targeting lower carbon intensive production

Dutch floater specialist SBM Offshore, the builder and operator of the Liza Destiny FPSO currently producing oil offshore Guyana,...

Maersk spuds Suriname well, starts operations in T&T on same day

The semi-submersible rig Maersk Developer earlier this month spudded the Sloanea-1 well in Suriname on the same day the...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

US super-major ExxonMobil will move to drill a second well on the Turbot discovery next year which will help to determine the volume of oil contained in the reservoir.

“We are planning to do an additional well on the Turbot discovery in 2018 similar to what we did with Liza-1, then we went back with Liza-2 and Liza-3 which all helped to further define the size,” ExxonMobil’s Senior Director, Public and Government Affairs, Kimberly Brasington, told OilNOW on Thursday.

While preliminary data provided by ExxonMobil indicates that the oil find at the Turbot-1 well is not as large as the Liza field, this additional discovery, which now brings the total to five since 2015, continues to make future development projects even more feasible.

Already, OilNOW has reported that ExxonMobil and its partners could be looking to embark on a Liza Phase 2 development as early as 2023. Preliminary work for the Liza Phase 1 development project is already underway with first oil set for 2020.

The gross recoverable resources for the Stabroek block stood at 2.25 to 2.75 billion oil-equivalent barrels before the Turbot discovery. This estimate included Liza, Liza Deep, Payara and Snoek.

From all indications, Turbo could push recoverable resources in the Stabroek block past the 3 billion oil-equivalent-barrel mark.

“We’re gonna keep looking for more oil” – Exxon Operations Manager

The Turbot-1 well is located in the southeastern portion of the Stabroek Block, approximately 30 miles (50 kilometers) to the southeast of the Liza phase one project.

Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

- Advertisement -

Latest News

North American oil and gas bankruptcy debt to blow past US$100 billion

The impact of the coronavirus pandemic continues to take its toll on the global oil and gas industry with...

Norway’s BW Offshore moves to liquidate owner of New Zealand FPSO

Norway-based BW Offshore said Thursday the Board of Directors of its subsidiary BW Umuroa Pte. Ltd. has taken a decision to place BWU, the...

Unity, Prosperity FPSOs targeting lower carbon intensive production

Dutch floater specialist SBM Offshore, the builder and operator of the Liza Destiny FPSO currently producing oil offshore Guyana, is moving ahead with technological...

Deepwater projects are big winners as average breakeven price drops to US$50 per barrel – Rystad Energy

A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped...

Maersk spuds Suriname well, starts operations in T&T on same day

The semi-submersible rig Maersk Developer earlier this month spudded the Sloanea-1 well in Suriname on the same day the Mærsk Discoverer began operations at...

More Articles Like This