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ExxonMobil announces oil find at Tripletail offshore Guyana

September 16, 2019

ExxonMobil today said it made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area.

The discovery adds to the previously announced estimated recoverable resource of over 6 billion oil-equivalent barrels on the Stabroek Block, the US oil major said in a release today. This would be its 14th find since May, 2015.

The announcement came on the heels of another oil find offshore this morning by UK firm Tullow. https://www.stabroeknews.com/2...ther-major-oil-find/

Exxon said that Tripletail-1 encountered approximately 108 feet (33 meters) of a high-quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet (2,003 meters) of water, is situated approximately 3 miles northeast of the Longtail find. After completion of operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, approximately 6 miles east of the Liza field.

“This discovery helps to further inform the development of the Turbot area,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Together with our partners, ExxonMobil is deploying industry-leading capabilities to identify projects that can be developed efficiently and in a cost-effective way.”

Exxon said that exploration and development activities are moving forward elsewhere on the Stabroek Block offshore Guyana. The Stena Carron drillship is presently drilling the Ranger-2 well and upon completion will conduct a well test at Yellowtail-1. The Noble Bob Douglas drillship is at the moment completing development drilling operations for the Liza Phase 1 project. ExxonMobil will add a fourth drillship, the Noble Don Taylor, in October 2019 as it continues to optimize drilling plans based on well results and ongoing study of the basin.

The release said that the Liza Phase 1 development remains on schedule to start up by early 2020 and will produce up to 120,000 barrels of oil per day utilizing the Liza Destiny floating production storage and offloading (FPSO), which arrived in Guyana on August 29, 2019.

ExxonMobil, the release said, approved funding for the Liza Phase 2 development after it received government and regulatory approvals in May 2019. Expected to startup by mid-2022, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels of oil per day. Pending government approvals, Exxon said that a third development, Payara startup could be as early as 2023 and production would reach an estimated 220,000 barrels of oil per day.

The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil company Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. Has 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

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kpHonorary Member

Tullow in another major oil find offshore Guyana

By Staff Editor

September 16, 2019

Director, Department of Energy, Dr. Mark Bynoe, today, announced that UK-based Tullow Oil plc’s (Tullow) Joe-1 exploration well has discovered a new Upper Tertiary oil play in the Guyana basin.

This is the second find of oil in two different wells operated by Tullow, in less than six weeks, a statement from the Ministry of the Presidency said this morning.

“The Co-operative Republic of Guyana continues to be encouraged by the prolific rate of discovery in our country. Every Guyanese can be assured that the Government will continue to work conscientiously to pursue the most effective and efficient marketing strategies of Guyana’s crude entitlement to transform our economy and to implement sustainable development programmes from which all Guyanese can benefit,” Bynoe said.

The Joe-1 exploration well was drilled by the Stena Forthdrillship to a total depth of 2,175 metres in water of 780 metres. The evaluation of logging and sampling data affirmed that Joe-1 has encountered 14 metres of net oil pay in high-quality oil bearing sandstone reservoirs of Upper Tertiary age, the statement added.

Bynoe stated that the Joe-1 well is the first oil discovery to be made in the Upper Tertiary play type, which further de-risks the western area of the Orinduik block, where a significant number of Tertiary and Cretaceous age prospects have been pinpointed.

“Guyana’s future is bright but more importantly, the time is ripe for all Guyanese to focus on how they want to see their oil revenues spent and invested”, Bynoe posited.

The statement added that the Repsol-operated Carapa-1 well on the Kanuku licence (Tullow 37.5 per cent) is scheduled to commence drilling in late September with the Rowan EXL II jack-up rig and will test the Cretaceous oil play with a result due in the fourth quarter of this year.

Bynoe added that Tullow and its partners will now evaluate data from the Joe-1 discovery alongside data from the Jethro-1 discovery announced in August 2019 and await the results of the Carapa well to determine the appropriate follow-on exploration and appraisal programme.

The well was drilled on the Orinduik licence by Tullow’s wholly owned subsidiary Tullow Guyana B.V. Tullow Guyana B.V. is the operator of the Orinduik block with a 60 per cent share. Total E&P Guyana B.V. holds 25 per cent with the remaining 15 per cent being held by Eco (Atlantic) Guyana Incorporated.

ANGUS MCCOSS, TULLOW EXPLORATION DIRECTOR, COMMENTED TODAY:
“I am very pleased that we have made back-to-back discoveries in Guyana and successfully opened a new, shallower play in the Upper Tertiary age of the Guyana basin with our second well. The Joe-1 discovery and its surrounding prospects represent another area of significant potential in the Orinduik Block and we are greatly looking forward to the next phase of the programme as we continue to unlock the multi-billion barrel potential of this acreage.”

9/16/1910:32 AM

Former Member

my goodness

9/16/1910:34 AM

Former Member

need a big brain find

9/16/1910:36 AM

kpHonorary Member

Who needs oil from the Middle East??

9/16/1910:43 AM

Former Member

Maybe US can colonize Guyana

9/16/1910:46 AM

kpHonorary Member

Ray posted:
Maybe US can colonize Guyana

Well, they already have a base in Essequibo with about 1,000 troops in training. If the country becomes unstable, they may have to take control and select an interim government.just to show Venezuela that they mean business.

9/16/1910:51 AM

Former Member

Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?

9/16/1910:53 AM

DjangoAdmin

skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?

Next year , the possibility extraction will start in December by Exxon.

9/16/1910:55 AM

Former Member

Django posted:
skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?
Next year , the possibility extraction will start in December by Exxon.

Tentatively scheduled? Hope so. Remember Guyana has to pay all of Exxon's expenses incurred so far and Exxon's taxes.

9/16/1910:59 AM

DjangoAdmin

skeldon_man posted:
Django posted:
skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?
Next year , the possibility extraction will start in December by Exxon.
Tentatively scheduled? Hope so. Remember Guyana has to pay all of Exxon's expenses incurred so far and Exxon's taxes.

Heard so !! you forgetting the profit oil split.

9/16/1911:27 AM

kpHonorary Member

Django posted:
skeldon_man posted:
Django posted:
skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?
Next year , the possibility extraction will start in December by Exxon.
Tentatively scheduled? Hope so. Remember Guyana has to pay all of Exxon's expenses incurred so far and Exxon's taxes.
Heard so !! you forgetting the profit oil split.

Oil pumping will start next year. Development cost will have to pay up front, only then Guyana will get 5% of crude oil, Exxon can buy the crude at discounted price, so far Guyana has not contracted anyone to refine the oil, Trinidad is interested, but screw them.

9/16/1911:40 AM

Billy Ram BalgobinBilly

The Surinamees are getting excited about oil exploration on their side. The Guinas are quickly becoming an oil rich area.

9/16/1911:55 AM

DjangoAdmin

kp posted:
Django posted:
skeldon_man posted:
Django posted:
skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?
Next year , the possibility extraction will start in December by Exxon.
Tentatively scheduled? Hope so. Remember Guyana has to pay all of Exxon's expenses incurred so far and Exxon's taxes.
Heard so !! you forgetting the profit oil split.
Oil pumping will start next year. Development cost will have to pay up front, only then Guyana will get 5% of crude oil, Exxon can buy the crude at discounted price, so far Guyana has not contracted anyone to refine the oil, Trinidad is interested, but screw them.

Banna read the contract ,regarding profit oil, your information is incorrect.

Guyana can sell their share or refine.

9/16/1911:57 AM

Sheik101Senior Member

Billy Ram Balgobin posted:
The Surinamees are getting excited about oil exploration on their side. The Guinas are quickly becoming an oil rich area.

Suriname got oil already. Not a whole, lot but a little more wont hurt. But I agree. The Guianas is becoming an oil rich area.

Managing this new found wealth is another story.

9/16/1912:13 PM

Former Member

ExxonMobil strikes oil again

Georgetown, Guyana – (September 16, 2019)Director, Department of Energy, Dr. Mark Bynoe, today, announced that ExxonMobil made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. This well was being drilled by the Tom Madden drillship.

This discovery adds to the previously announced estimated recoverable resource of more than six billion oil-equivalent barrels on the Stabroek Block.

“This is another major development for the Co-operative Republic of Guyana which, along with 14 other oil discoveries, has the potential to advance the country’s economy and propel it towards impactful and sustained development.The Department of Energy (DE) continues to be encouraged by the prolific rate of discovery of high-quality hydrocarbons offshore Guyana as the discoveries add to the further de-risking of this play type in the deep and ultra-deep zones,” Dr. Bynoe said.

The Tripletail-1 well is located approximately three miles (five kilometres) northeast of the Longtail discovery. The well was drilled in 6,572 feet (2,003 meters) of water and encountered approximately 108feet (33 meters) of a high-quality oil-bearing sandstone reservoir.

“This discovery is another indication that Guyana’s future is bright. But we can only secure that future through stronger collaboration, an improved legislative environment, and a cohesiveness that is most necessary at this time than at any time in our country’s history. The DE, along with its partner institutions, will continue to work assiduously and efficiently to ensure that we extract the best value from these resources for our nation and people,” the Energy Director said.

On completion of the operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately six miles (10 kilometres) east of the Liza field.

With this new find, ExxonMobil is expected to continue to move forward exploration and development activities elsewhere on the Stabroek Block offshore Guyana. The Stena Carron drill ship is currently drilling the Ranger-2 well and upon completion will conduct a well test at Yellowtail-1. The Bible Bod Doglas drillship is currently completing development drilling operations for the Liza Phase 1 project.

ExxonMobil will add a fourth drillship, the Noble Don Taylor, in October 2019 as the company continues to optimize its drilling plans, based on well results and the ongoing study of the basin.

Previously, ExxonMobil announced plans to have at least five FPSO vessels on the Stabroek Block, which will produce more than 750,000 barrels of oil per day by 2025. The Liza Phase 1 development is on track to start-up by early 2020 and will produce up to 120,000 barrels of oil per day, utilizing the Liza Destiny FPSO.

ExxonMobil approves funding for the Liza Phase 2 development after it received Government and regulatory approvals in May 2019.

Plans are in train to start-up by mid-2022, using the Liza Unity FPSO to produce up to 220,000 barrels of oil per day.

Further, pending Government approvals, a third development, the Payara start-up could be as early as 2023 and production is expected to reach an estimated 220,000 barrels of oil per day.

The Stabroek Block is 6.6 million acres (26,800 square kilometres). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45 per cent interest in the Stabroek Block. Hess Guyana Exploration Limited holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 per cent interest.

9/16/1912:48 PM

Former Member

Ayo can stay a foreign and fight Mattie.

Ayo better come and claim ayo share, buy a piece of land and let the gold fillings fall Pon ayo .

9/16/1912:51 PM

DjangoAdmin

Dave posted:
Ayo can stay a foreign and fight Mattie.
Ayo better come and claim ayo share, buy a piece of land and let the gold fillings fall Pon ayo .

You guh sink both feet back in the homeland ?

I holding on to my homestead back home.

9/16/1912:57 PM

Former Member

Django posted:
Dave posted:
Ayo can stay a foreign and fight Mattie.
Ayo better come and claim ayo share, buy a piece of land and let the gold fillings fall Pon ayo .
You guh sink both feet back in the homeland ?
I holding on to my homestead back home.

Something big coming .. stay tune 😊. Bhai all them property value went up along Demerara River, towards Parika and the East Coast.

9/16/191:04 PM

kpHonorary Member

Django posted:
kp posted:
Django posted:
skeldon_man posted:
Django posted:
skeldon_man posted:
Oil, Oil everywhere in Guyana, not a drop for Guyanese. When will they start drillin'? How long before will Guyanese see any financial benefits from oil?
Next year , the possibility extraction will start in December by Exxon.
Tentatively scheduled? Hope so. Remember Guyana has to pay all of Exxon's expenses incurred so far and Exxon's taxes.
Heard so !! you forgetting the profit oil split.
Oil pumping will start next year. Development cost will have to pay up front, only then Guyana will get 5% of crude oil, Exxon can buy the crude at discounted price, so far Guyana has not contracted anyone to refine the oil, Trinidad is interested, but screw them.
Banna read the contract ,regarding profit oil, your information is incorrect.
Guyana can sell their share or refine.

I was at a meeting a couple weeks ago with reps from Exxon and Guyana government I know what they said, you keep on reading . I invested I have my own documents.

9/16/191:24 PM

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Topics

ExxonMobil announces oil find at Tripletail offshore Guyana

Tullow in another major oil find offshore Guyana

ExxonMobil strikes oil again

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