ExxonMobil is looking to increase its multi-billion barrel recoverable resources offshore Guyana this year. Its co-venturer Hess Corp. recently announced yet another significant discovery at Fangtooth SE-1.
And according to Rystad Energy, more discoveries will come over the next several years, with a new bulk to be exploited in 2023.
In an exclusive interview with OilNOW, Rystad’s Senior Vice President and Head of Latin America, Schreiner Parker explained that it is very apparent that Exxon has the desire to drill “all available prospects” they believe could add to Guyana’s increasing resource count.
Thus, Exxon has only explored a small fraction of the 6.6 million acres Stabroek Block. And the majority of its discoveries have been made in the southeast portion of the Block.
“…The southeast corner of the Stabroek Block has definitely defined a kitchen, but there is a strong possibility that there is a secondary lane of discoveries that could be exploited this year, next year and going along to the future,” Parker shared.
The Fangtooth reservoir discovery may have started the ball rolling.
Hess top brass, John Hess had said that it was actually the first test of the deepwater horizon of the Lower Campanian and Santonian plays.
And now, Hess has tapped it as the seventh Stabroek Block development.
The hunt for oil continues offshore Guyana.
Exxon is currently engaged in a 25-well exploration campaign. It is expected to conclude in the first half of 2023, after which a 35-well campaign is expected to commence.
Tarpon is the next well target.
Drilling activities are being undertaken by the Stena DrillMax at Tarpon, located approximately 122.3 nautical miles (226.5 kilometers) offshore, covering an area of 0.29 square nautical miles (1 square kilometer).