Drilling rigs and oil rigs on a Guyana flag background. (Source: Shutterstock.com)
Hess Corp. reported the eighth and ninth finds on the Exxon Mobil-operated Stabroek Block offshore Guyana this year, while a third well failed to find commercial pay.
In July this year, the block partners announced the Seabob and Kiru-Kiru discoveries, which were the sixth and seventh finds on the block this year. With the new Yarrow and Sailfin successes, the partners have recorded 30 major discoveries on the block to date.
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Exxon Mobil, Hess Accelerate Stabroek Development with Two New Discoveries
According to Hess, the Yarrow-1 well, drilled in 3,560 ft water depth, encountered about 75 ft of high-quality oil-bearing sandstone reservoirs. The well is about 9 miles southeast of the Barreleye-1 discovery. Hess also said the Sailfin-1 well, drilled in 4,616 ft water depth and located about 15 miles southeast of the Turbot-1 discovery, encountered about 312 ft of high-quality hydrocarbon-bearing sandstone reservoirs.
“These discoveries will add to the discovered recoverable resource estimate for the block of approximately 11 Bboe, and we expect to be producing more than 1 million gross barrels of oil per day in 2027,” CEO John Hess said.
Partners in the Exxon Mobil-led block have sanctioned four development projects.
The Liza Phase 1 and Phase 2 developments are operating at their combined gross production capacity of more than 360,000 bbl/d of oil. The third development at Payara is on track to come online at the end of 2023 using the Prosperity FPSO, which has a production capacity of 220,000 gross bbl/d of oil. The fourth development, Yellowtail, is expected to come online in 2025, using the ONE GUYANA FPSO, which has a production capacity of 250,000 gross bbl/d of oil.
The group expects to submit a plan of development to the Government of Guyana before year end for a fifth development, Uaru, which would target going online at the end of 2026 with a gross production capacity of 250,000 bbl/d of oil.
The Banjo-1 exploration well drilled earlier in the third quarter did not encounter commercial quantities of hydrocarbons, Hess said.
ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. operates the 6.6-million-acre Stabroek Block with 45% interest on behalf of partners Hess Guyana Exploration Ltd. with 30% interest and CNOOC Petroleum Guyana Limited with 25% interest.
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