Tullow Oil and its partner Eco Atlantic have completed an approximate 2,500 km2 3D seismic survey on the Orinduik Block offshore Guyana.
The survey started in late July and it was conducted by Schlumberger’s Western Geco using R/V GECO Eagle and two supporting vessels.
Eco Atlantic (Guyana) Inc, a subsidiary of Eco Atlantic, holds a 40% working interest in Orinduik, and Tullow, as the operator, holds 60% interest. The survey has been completed on schedule, Eco Atlantic informed on Tuesday.
The Orinduik Block is located up dip and just a few kilometers from Exxon’s recent Liza and Payara discoveries confirming, by Exxon’s estimates, between 2.25 and 2.75 billion barrels of recoverable oil.
Prior to the 3D survey, Eco Atlantic and Tullow completed the first phase of exploration, including evaluating all existing and regional 2D data. Following the results of this study and the ongoing regional success, both parties accelerated and increased the originally proposed 1,000 km2 3D survey commitment on the block to circa 2,500 km2, thus the 3D survey covered the entire block area, fully overlapping current prospective 2D leads and downdip trends.
Eco Atlantic and Tullow will now begin the processing and interpretation of the data. As part of its agreement with Tullow, Tullow carries Eco Atlantic’s share of the originally proposed 1,000 km2 of the survey, at a cap of$1.25 million, with the balance of the program funded by both parties on a pro-rata basis.
Colin Kinley, Chief Operating Officer and co-founder of Eco Atlantic, commented: “I am happy to announce the successful completion of this 3D survey with essentially no technical down time or weather standby, we have had stable seas throughout the survey and full serviceability from the vessel providing us continuous acquisition of high resolution data.”
He added: “Our next immediate steps are to begin processing the data which we will do this fall and the parallel interpretation. Our goal is to evaluate and de-risk our existing leads to better define the reservoir characteristics and define potential drilling targets.”