Tullow spuds second well offshore Guyana
Tullow Oil has started drilling at the Joe prospect in the Orinduik block offshore Guyana, the company’s second well in the block, after the Jethro-1 well which struck oil earlier this month.
According to Eco Atlantic, Tullow’s partner in the block, Joe-1 was spud at 14.45hrs (Local Guyana time) on the 25th August, using the Stena Forth drillship. The same rig was used for the Jethro discovery.
The Joe prospect is a Tertiary feature on the northern part of the Orinduik Block in approximately 700 metres of water and is estimated by Gustavson Associates to hold 148.3mmboe of gross unrisked prospective oil resources (P50).
Colin Kinley, Chief Operating Officer of Eco said: “We are very pleased to have spudded our second exploration well on Orinduik. After the discovery made on Jethro in the Lower Tertiary, which greatly derisked that age section throughout the block, we are now moving to an Upper Tertiary target in the Joe prospect where we are targeting over 100mmboe.
“If a further discovery is made, it will further enhance the value of the block with this shallower play. The estimated chance of success for Joe is the same as Jethro, although it is a completely different play, and we are confident in our 3D interpretation as we were ahead of the Jethro-1 discovery.
“We look forward to continued success in our exploration efforts as we move forward to define the plays available to us in all the various geological ages and to develop this block.”
Tullow is the operator of the Orinduik block with a 60% stake. Total holds 25% with the remaining 15% being held by Eco(Atlantic) Guyana Inc.
Tullow is hoping to replicate ExxonMobil’s success, as the Orinduik block is located next to Exxon’s Stabroek block where more than a dozen discoveries have been made.
Guyana is set to become an oil-producing nation in March next year upon the arrival and the hook-up of the Liza Destiny FPSO to Exxon’s Liza field.
The FPSO is expected to reach Guyana in a few days and will be deployed at Exxon-operated Liza field as part of the first phase of the development offshore Guyana. First oil is expected in the first quarter of 2020.
The Liza field is expected to start producing up to 120,000 gross bopd by the first quarter of 2020. The first phase is expected to develop around 500 million barrels of oil.
The FPSO, the first of several to be deployed in Guyana, will be spread moored in a water depth of 1,525 metres and will be able to store 1.6 million barrels of crude oil.
Source: Offshore Energy Today