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Exxon finds more oil at  Pinktail prospect, second FPSO on its way to Guyana

Exxon

Liza 2 FPSO on its way, leaves Singapore for Guyana

By Kaieteur News

GEORGETOWN
Petroleumworld 09 13 2021

Guyana’s second Floating Production Storage and Offloading (FPSO) vessel—the Liza Unity—has set sail from the Keppel shipyard in Singapore, destined for hook up with the Liza II development in the Stabroek Block. This, even as operator—ExxonMobil Guyana—announces still more discoveries in the prolific concession.

ExxonMobil made the announcement yesterday, confirming that it had made a discovery at Pinktail prospect—its 20th to date—encountering some 220 feet (67 meters) of net pay in high quality hydrocarbon bearing sandstone reservoirs.

Additionally, the company said its Turbot-2 well, also encountered 43 feet (13 meters) of net pay in a newly identified, high quality hydrocarbon bearing sandstone reservoir.

According to ExxonMobil, that discovery is separate from the 75 feet (23 meters) of high quality, oil bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well.
The news also comes on the heels of the recently announced discovery at the pay in deeper reservoirs encountered at the Whiptail discovery.

Welcoming the announcement, the Minister of Natural Resources, Vickram Bharrat in a public missive said, “The Government of Guyana is confident that these additional discoveries will serve to further catapult Guyana’s monumental transition as a country with world-class discoveries of high-quality hydrocarbon.”

According to Minister Bharrat, Government remains committed and persistent in engaging all stakeholders towards the beneficial development of these resources for all Guyanese in a sustainable and responsible manner.

To this end, Bharrat said Government has since mandated the Ministry of Natural Resources and the Petroleum Sector regulatory agencies to enhance the oversight and management of the exploration programmes of “all operators as we seek to further expand the sector through advancing commercial discoveries.”

According to Minister Bharrat, “I would like to reassure all Guyanese and stakeholders that this will be undertaken in keeping with international best practices for compliance and transparency within the petroleum sector and to ensure benefits are derived for all Guyanese.”

Senior Vice President of exploration and new ventures at ExxonMobil, Mike Cousins, in making the announcement noted that, “these discoveries are part of an extensive well programme in the Stabroek Block utilizing six drill ships to test play extensions and new concepts, evaluate existing discoveries, and complete development wells for the Liza Phase II and Payara projects.”

According to the ExxonMobil Executive, “our exploration successes continue to increase the discovered resource and will generate value for both the Guyanese people and our shareholders.”

Meanwhile, the company in making the announcement noted that the Liza Unity has been completed and set sail from Singapore for Guyana on September 3 last and is expected to arrive in Guyana in November.

That vessel is expected to commence production from the Liza II oil field with a capacity to produce approximately 220,000 barrels of oil per day.

With the Liza Unity producing, it would bring total production from the Stabroek Block next year to some 340,000 barrels of oil daily by the ExxonMobil-led consortium.

The Liza Phase II breakeven is estimated at US$25 per barrel, while the first FPSO—the Liza Destiny—produces at about US$35 per barrel.

As it relates to the new discoveries, the company in making the announcement detailed that Pinktail Well is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 project, which began production in December 2019, and 3.7 miles (6 kilometers) southeast of Yellowtail-1. Pinktail was drilled in 5,938 feet (1,810 meters) of water by the Noble Sam Croft.

The Turbot-2 discovery is located approximately 37 miles (60 kilometers) to the southeast of the Liza phase one project, and 2.5 miles (4 kilometers) from the Turbot-1 discovery announced in October 2017.

Turbot-2 was drilled in 5,790 feet (1,765 meters) of water by the Noble Sam Croft.


______________

By Kaieteur News

kaieteurnewsonline.com /
09 10 2021

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