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E & P News


Aug 2018:  ExxonMobil (operator, 55%), with Hess (30%) and CNOOC Nexen (25%), made a 9th oil discovery in Hammerhead-1, 21kms SE of Liza in the SE of the Stabroek Block in 1,150m of water, drilled by the Stena Carron drillship. A total of 4bn bbls of recoverable oil are estimated to have been discovered. Up to 5 FPSOs could produce more than 750,000 bbls per day by 2025.

June 2018: ExxonMobil (operator, 55%), with Hess (30%) and CNOOC Nexen (25%), made an 8th oil discovery in Longtail-1 in the SE of the Stabroek Block in 1,940m of water. It is close to Turbot, SE of the Liza field. A 3rd drillship will be introduced  to drill other prospects whilst the first is development drilling for Liza Phase 1. The Payara development is planned to follow Liza Phase 2.

June 2018: ExxonMobil has begun drilling 17 wells in its Liza Phase 1 offshore development. Phase 1 involves conversion of an oil tanker into an FPSO along with 4 subsea drill centres. A second FPSO is planned for Phase 2 and a third is under consideration for the Payara field which together will produce more than 500,000 bbls of oil per day.

Apr 2018: ExxonMobil announced that the Soribrum-1 exploration well is a dry hole, the second dry hole out of 8 wells at the Stabroek Block (the first was Skipjack-10). The Bob Douglas drillship will now begin drilling Liza Phase 1 wells whilst the Stena Carron drillship will explore other areas of the block. It is currently drilling Liza-5.

Feb 2018: ExxonMobil (operator, 45%) and Hess (30%) and CNOOC Nexen (25%) have made their 7th offshore oil discovery at the Pacora-1 well in the Stabroek Block, encountering 20 meters of oil-bearing sandstone in 2,037m of water. After the Pacora-1 completion, the drillship Stena Carron will move to the Liza field to drill the Liza-5 well.

Feb 2018: Total agreed to acquire interests in 2 exploration licenses; the deep water Canje Block (35%) and the shallow water Kanuku Block (25%), after entering into an option agreement for the nearby Orinduik Block.

Jan 2018: ExxonMobil (operator, 45%) announced a 6th oil discovery since 2015 in the Ranger-1 well at a water depth of 2,735m within the Stabroek Block adding to Liza, Payara, Snoek, Liza Deep and Turbot. The well was spudded in Nov 2017 and encountered 70 m of carbonate reservoir. The drillship will now move to the Pacora prospect. Partners are Hess (30%) and CNOOC Nexen (25%).


Oct 2017: ExxonMobil (operator, 45%) announced it a 5th new oil discovery in the Turbot-1 well in 1,802m of water in the southeast Stabroek Block adding to previous discoveries at Liza, Payara, Snoek and Liza Deep. The drillship will now move to the Ranger prospect with an appraisal well on Turbot due in 2018. Partners are Hess (30%) and CNOOC Nexen (25%).

Jul 2017: ExxonMobil’s Payara-2 appraisal well in 2135m of water has discovered oil, increasing the estimated recoverable resources in the Stabroek Block including the adjacent satellite discoveries at Snoek and Liza. Esso is operator with 45% along with Hess (30%) and CNOOC Nexen (25%).

May 2017: Exxon will proceed with the Liza development in the Stabroek Block at a water depth of around 1,800m. The Liza field (including Payara and Snoek) is an FPSO/subsea development and Saipem will perform engineering, procurement, construction, and installation of the risers, flow lines, and associated structures. Production is planned for 2020 at up to 120,000 bbls per day.

Mar 2017: Exxon Mobil (operator, 45%) discovered oil in the Snoek-1 well in 1,563m of water on the Stabroek Block in reservoirs of similar age to those encountered in Liza and Payara. The well is located in the southern part of the Block, 8 kms southeast of the Liza-1 discovery. The drillship will now drill Liza-4. Partners are Hess (30%) and CNOOC (25%).

Jan 2017: ExxonMobil discovered oil in its Payara-1 well in 2,030 m of water northwest of the Liza discovery. The Payara field is estimated to hold between 100 and 150 mm bbls of oil equivalent.


Dec 2016: ExxonMobil has awarded a contract to SBM Offshore to supply an FPSO unit for Liza and, subject to an FID in 2017, will construct, install and operate the vessel around 200 kms offshore. Guyana. Esso is operator with 45% along with Hess (30%) and CNOOC Nexen (25%).

Nov 2016: ExxonMobil has declared the Liza oil discovery in the offshore Stabroek block to be commercial.

Oct 2016: The Esso-operated Liza-3 appraisal well in the offshore Stabroek Block was completed successfully, confirming a large oil discovery. Estimated recoverable resources are at the top end of the 800 mm to 1.4 bn bbls oil equivalent range. Esso holds 45% in the block, along with Hess (30%) and CNOOC Nexen (25%). They also completed the nearby Skipjack exploration well as a dry hole.

Jun 2016: - ExxonMobil (operator, 45%) said that results from the Liza-2 well, the second in the Stabroek Block, confirm a major oil discovery. Liza-2 was drilled approximately 3 kms from the Liza-1 well. Partners are Hess (30%) and and CNOOC Nexen (25%).

Jan 2016: ExxonMobil plans to drill its second well on the Stabroek block in the first quarter of 2016. It has been reported that ExxonMobil, with partners Hess and CNOOC, would start a 4-well drilling campaign on the Stabroek block.


Oct 2015: ExxonMobil is moving the Liza discovery into a pre-FEED stage. A leased FPSO option may be favoured to develop reserves estimated at up to 600 mm bbls.

May 2015: ExxonMobil (operator, 45%), with Hess  (30%) and CNOOC (25%), discovered oil in the deep water Liza-1 well. The discovery is located in the Stabroek Block off a border region that is claimed by Venezuela. Exxon is evaluating commercial viability.  

Mar 2015: ExxonMobil has started drilling the Liza-1 well in 1,750m of water in the Stabroek Block. The area lies off a border region claimed by Venezuela (the Essequibo area). Exxon signed an agreement with Guyana to explore the block in 1999.


Jun 2014: CGX has given an update on its assets. In the Corentyne Block, available for farm-out, reprocessing and merging of seismic surveys is complete. The company has procured the use of the Hakuryu jack-up for a well in 2015. An extension on the spud date on the first commitment well has been agreed to Oct 31, 2015. In the Demerara Block a seismic survey is planned.


Dec 2013: RWE Dea is to farm-in to the Kanuku licence operated by Repsol in the Guyana-Suriname Basin. RWE Dea will acquire 30%, Repsol will retain 40%, along with Tullow Oil (30%). The licence covers an area of 6,525 sq kms in water depths ranging up to 200m. Acquisition of seismic data was completed in December.

Jul 2013: Tullow Oil reported that it has reached agreement with Repsol to secure a 30% interest in the newly defined Kanuku Block, offshore Guyana. This follows expiry of the Georgetown licence in 2012 after the early termination of the Jaguar-1 well. The new agreement requires a 3D seismic programme to be acquired before the end of the initial 2.5 year period.

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