Hess increased stake in Kaieteur Block points to expectation of future discoveries – Rystad Energy

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre
- ADVERTISEMENT -

Although the first and deepest well ever to be drilled in the Guyana-Suriname Basin on the Kaieteur Block failed to deliver commercial crude, upstream players on the acreage said the prospect yielded significant data.

Tanager-1 reached a total depth of 7,633 metres. Evaluation of LWD, wireline logging and sampling data confirmed 16 metres of net oil pay in high-quality sandstone reservoirs of Maastrichtian age.

Westmount Energy Ltd., a company that holds shares in two of the firms with stakes in the Kaieteur Block announced in May that Hess Corporation increased its stake in the block from 15% to 20%.

Norway-based Rystad Energy said this move by Hess is “a sign the US independent expects the ExxonMobil-operated license to yield more than last year’s uncommercial Tanager-1 oil discovery.”

Evaluation of the fluid samples from Tanager-1 had indicated heavier oil than is reported from the Liza Phase I producing field crude assays. The well results confirmed the continuance of a Cretaceous petroleum system and the Liza play fairway onto the Kaieteur Block, down dip from the prolific discoveries on the neighbouring ExxonMobil-operated Stabroek Block.

“We will evaluate the data we have gained through additional tests and analysis and will continue exploration activities across our acreage offshore Guyana, including in the high-risk frontier areas such as the Kaieteur and Canje blocks,” Janelle Persaud, ExxonMobil Guyana Public and Government Affairs Advisor told OilNOW in November.

A substantial prospect inventory has already been mapped across the 5,750 km2 3D seismic survey, which was acquired in the southern part of the Kaieteur Block in 2017.

- Advertisement -
spot_img

Latest News

Ali in fiery exchange with BBC journalist about Guyana’s oil

Guyana’s President, Dr. Mohamed Irfaan Ali, sat down for an interview with BBC journalist, Stephen Shakur, on the sidelines...

More Articles Like This