Guyana oil bounty pushing demand for more drill capacity

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The Noble Bob Douglas drillship at the Stabroek Block offshore Guyana

On the heels of its record 13th discovery offshore Guyana, US oil major ExxonMobil is looking to ramp up its exploration and production activities in the South American country with the addition of yet another drillship to its fleet, as the search for more petroleum resources continue.

In announcing the latest discovery at the Yellowtail-1 well on Thursday, ExxonMobil said it is also “evaluating plans to add another exploration drillship, bringing the number of drillships offshore Guyana to four.”

This would add to the Noble Tom Madden, Bob Douglas and Stena Carron. The Stena Carron drillship is currently completing a well test at the Longtail-1 discovery and upon completion will next drill the Hammerhead-3 well. The Hammerhead-3 drill site is located approximately 88 nautical miles off Guyana’s coast and the campaign will cover an area of 1 square kilometer.

The Noble Tom Madden began drilling the Yellowtail well on March 27, where the 13th discovery was made and will next drill the Hammerhead-2 well.

Meanwhile, the Noble Bob Douglas drillship is currently completing development drilling operations for the 120,000 bpd Liza Phase 1 project which will bring first oil for Guyana in 2020.

ExxonMobil has also said there is potential for at least five floating production, storage and offloading (FPSO) vessels on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025.