UK-based Tullow Oil and its joint venture partners have spudded their first well at the Orinduik Block offshore Guyana located just miles away from the multi-billion-barrel Stabroek Block where US oil major ExxonMobil has to date made a record 13 discoveries.
Jethro-Lobe was spud at 22:45hrs (Local Guyana time) on Thursday July 4 using the Stena Forth drillship.
Junior partner in the Orinduik Block, Eco Atlantic Oil and Gas, said on Friday it estimates the well will take up to 40 days to drill.
“Today Eco Atlantic’s first Guyana well has been spud, three years ahead of our Petroleum Agreement commitment. This is the start of a hugely exciting time for the Company. Jethro Lobe will test the Lower Tertiary aged turbidites, as well drilling down into the Cretaceous. As such, we await the well results with great anticipation, as they will give us an even greater understanding of the geological plays,” commented Gil Holzman, Chief Executive Officer.
“The huge success which ExxonMobil has had on the neighbouring Stabroek Block, has aided our geological assessment of the many similar channel systems in our Orinduik Block. With fifteen leads and prospects identified on the Orinduik Block, and funding to drill six potential exploration wells beyond the two currently planned, this is only the start of a fascinating and potentially transformational time for the Company,” Holzman added.
Jethro Lobe is the first prospect to be drilled as part of a two-well programme and will be immediately followed by the drilling of an exploration well on the Joe prospect.
Eco is fully funded for its share of up to six potential exploration or development wells on the Orinduik Block in addition to the Jethro Lobe and Joe exploration wells, as announced on 10 June 2019.
Tullow, the operator of the Orinduik Block, has 60 percent stake, Total has 25 percent and Eco Atlantic Oil and Gas has 15 percent.