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Exxon's hit at Payara-2 ups resources

Written by  Tuesday, 25 July 2017 09:47

ExxonMobil has discovered additional oil at a Payara appraisal well offshore Guyana, upping the ultra deepwater discovery's resources to about 500 MMboe.

Map of Stabroek, from Exxon.

The Payara-2 well encountered 18m (59ft) of high-quality oil-bearing sandstone in the Payara field, after being drilled to 5812m (19,068ft) in 2135m (7000ft) water depth.

Payara-2 is about 20km (12mi) northwest of the recently funded Liza phase 1 project on the Stabroek Block, 130mi offshore Guyana.

According to the supermajor, these positive well results increase the estimated gross recoverable resource for the Stabroek Block to between 2.25 billion boe and 2.75 billion boe.

“Payara-2 confirms the second giant field discovered in Guyana,” says Steve Greenlee, president of ExxonMobil Exploration Co. “Payara, Liza and the adjacent satellite discoveries at Snoek and Liza Deep will provide the foundation for world class oil developments and deliver substantial benefits to Guyana. We are committed to continue to evaluate the full potential of the Stabroek Block.”

Payara and Liza are both part of the Stabroek Block, which spans 6.6 million acres (26,800sq km).

Exxon received positive results from its Payara-1 well in January, with more than 95ft (29m) of high-quality, oil-bearing sandstone reservoirs. The well was drilled to 18,080ft (5512m) in 6660ft (2030m) water depth.  

Esso Exploration and Production Guyana Ltd. is the operator and holds 45% interest in the Stabroek Block. Partners include Hess Guyana Exploration Ltd. (30%) and CNOOC Nexen Petroleum Guyana Ltd. (25%).

Read more:

Exxon, Hess move forward with Liza

Exxon's Liza FID expected this month

ExxonMobil eyes 2017 Liza FID, first oil 2020

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2018-08-21 11:36:37pm