Exxon makes another discovery offshore Guyana

U.S. oil giant Exxon Mobil is at it again. The company on Thursday announced “positive results” on the Snoek well offshore Guyana, confirming a new – third – discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara, Exxon said.

“The latest discovery at Snoek demonstrates the continued success we have achieved in this technically complex play, which is just part of the significant exploration province offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company.

ExxonMobil started drilling of the Snoek well on February 22, 2017 and encountered 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoirs.

The well was  drilled to 16,978 feet (5,175 meters) in 5,128 feet (1,563 meters) of water on March 18. The Snoek well is located in the southern portion of the Stabroek Block, approximately 5 miles (9 km) to the southeast of the 2015 Liza-1 discovery.

Following completion of the Snoek well, the Stena Carron drillship has moved back to the Liza area to drill the Liza-4 well.

“As we continue to evaluate the full potential of the broader Stabroek Block, we are also taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana,” said Greenlee.

The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

As for the Liza discovery, ExxonMobil drilled three wells in there, and is now getting ready for the fourth. The Liza-1 well was drilled in March 2015 while the Liza-2 well was drilled in June 2016. ExxonMobil affiliate Esso Exploration and Production Guyana, responsible for all drilling activities on behalf of ExxonMobil in Guyana, drilled the Liza-3 well in October last year.

In December, ExxonMobil awarded a contract to SBM Offshore to supply an FPSO unit for the Liza development, which is estimated to hold an excess of 1 billion oil-equivalent barrels.

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