Exxon’s Guyana discoveries building confidence in world class potential of Orinduik block

Eco Atlantic and Tullow are building confidence in the world class potential of the Orinduik Block offshore Guyana, following ExxonMobil’s seventh oil discovery at adjacent acreage. 

ExxonMobil made an announcement in relation to its seventh oil discovery, offshore Guyana on Wednesday, February 28. The Pecora-1 well, drilled using the Stena Carron drillship, was also confirmed both by the country’s Minister of Natural Resources Raphael Trotman.

The Pacora-1 discovery is the closest discovery to date to the Orinduik Block, Eco Atlantic said on Thursday. Eco currently holds a 40% Working Interest in the Orinduik Block which is operated by Tullow Oil.

Pacora-1 encountered approximately 65 feet (20 meters) of high-quality, oil-bearing sandstone reservoir. The Pacora-1 well is located seven kilometers west of the Payara 1 Discovery and is again directly down dip of the Orinduik Block and follows Exxon’s previous discoveries on the Stabroek block at the Liza 1 and Liza 2 Fields, Payara, Liza Deep, Snoek, Turbot 1 and Ranger 1 Well locations.

Exxon has confirmed that a second drill rig is currently being mobilized for production operations and further exploration on the block.

Gil Holzman, CEO of Eco Atlantic, commented: “This is yet another significant oil discovery on Exxon’s Stabroek Block directly down dip and adjacent to our Orinduik License. With each well Exxon is further defining the overall scale of this giant field.

“Critically these discovery wells sit down dip from the Eco / Tullow block. These thick sand pathways are defining a migration and a charge of this high-quality sand with hydrocarbons. Our technical team is working carefully and conservatively to define the resources within Orinduik. With experts from Total, Tullow, Gustavson, Eco and Kinley all interpreting the processed data as it becomes available, we are building confidence in the world class potential of this block. This Pacora discovery is very close to our border and has added a new and significantly important dimension to our prospectivity.”

Following completion of the Pacora-1 well, the Stena Carron drillship will move to the Liza field to drill the Liza-5 well and complete a well test, which will be used to assess concepts for the Payara development.

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