The South American country’s Minister of Natural Resources, Raphael Trotman, describes the unprecedented number of oil finds so far as a sign of Guyana’s much talked about potential finally being realized.
“As Minister I can only say that the long promised blessing is being released and the potential we heard of as children being realized, he told OilNOW just hours after ExxonMobil announced that drilling at Ranger-1 had encountered approximately 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir.
“The Ministry is happy that it is securing a strong and long-term relationship with ExxonMobil, Hess and CNOOC Nexen that will bring long lasting benefits for everyone,” he further added.
The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels, ExxonMobil has said.
The company’s Senior Director, Public and Government Affairs in Guyana, Kimberly Brasington, told OilNOW on Friday ExxonMobil and its partners Hess and CNOOC Nexen are proud to have safely and successfully completed the Ranger-1 well “through a combination of our technical expertise and relentless commitment to operating in a safe and environmentally responsible…”
Following completion of the Ranger-1 well, the Stena Carron drillship will now be moving to the Pacora prospect, 4 miles from the Payara discovery. Additional exploration drilling is planned on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.