Tullow Oil and partner Eco Atlantic have completed a 3D seismic survey on the Orinduik Block offshore the co-operative Republic of Guyana.
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Map of Orinduik, from Eco Atlantic. |
The approximate 2500sq km 3D seismic survey was conducted by Schlumberger Guyana (WesternGeco).
The Orinduik Block is 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 bbl of recoverable oil.
Prior to the 3D Survey Tullow and Eco Atlantic 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 significantly increased the originally proposed 1000sq km 3D survey commitment on the block to circa 2500sq km, thus the 3D Survey covered the entire block area, fully overlapping current prospective 2D leads and downdip trends.
The partners 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 1000sq km of the survey, at a cap of US$1.25 million, with the balance of the program funded by both parties on a pro-rata basis.
“Our next immediate steps are to begin processing the data which we will do this fall and the parallel interpretation,” says Colin Kinley, Eco Atlantic COO and co-founder. “Our goal is to evaluate and de-risk our existing leads to better define the reservoir characteristics and define potential drilling targets.”
Tullow is the operator of the project with 60% stake. Eco Atlantic (Guyana) Inc, a subsidiary of Eco Atlantic, holds the remaining 40%.
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