Oil exploration continues in Guyana
The US-oil giant, ExxonMobil is continuing to test for oil in Guyana.
An article in the global oil and gas publication ‘Upstream’ notes that the “company’s ‘Stena Carron’ drillship left the Liza 3 location early Thursday for a 10-mile move north-east to the Payara location, where ExxonMobil and its partners will drill the latest wildcat on the sprawling Stabroek block.” Hess Corporation’s Chief Executive, John Hess told Upstream, “that Payara was a “very similar stratigraphic trap and same kind of reservoir sequence as the other Liza wells.”
United States’ Oil Company, Hess Corp and Nexen which is a subsidiary of CNOOC each holds a share in the Liza prospect. The oil companies are expecting results from the Payara exploration by January 2017.
The Stabroek Block consists of 6.6 million acres offshore Guyana and is where the Lizas are located. According to Upstream, the Stena Carron “drilled Liza 3 to a total depth of 18,100 feet in 6000 feet” and Hess noted that Liza 3 has the e “same high-quality reservoirs” as the other two Lizas.
This year, ExxonMobil’s Liza-2 offshore exploration found high propensity sandstone reservoirs that could produce more than 1.4 billion barrels of recoverable high quality oil.
Hess Corp and ExxonMobil are looking to the end of 2017 to develop the Liza field.
