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E & P News

2017

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.

2016

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.

2015

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.

2014

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.

2013

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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