New drilling results at ExxonMobil’s Liza discovery offshore Guyana are revealing the potential of recoverable resources to be up to 1.4 billion boe.
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Image from Exxon Twitter. |
The Liza-2 well encountered more than 58m (190ft) of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 5475m (17,963ft) at 1692m (5551ft) water depth. Drilling results from the discovery’s second well have confirmed recoverable resources to be between 800 MMboe – 1.4 billion boe. Data from the Liza-2 well test is being assessed.
“We are excited by the results of a production test of the Liza-2 well, which confirms the presence of high-quality oil from the same high-porosity sandstone reservoirs that we saw in the Liza-1 well completed in 2015,” said Steve Greenlee, president of ExxonMobil Exploration Co. “We, along with our co-venturers, look forward to continuing a strong partnership with the government of Guyana to further evaluate the commercial potential for this exciting prospect.”
The Liza wells are in the Stabroek block, some 193km (120mi) offshore Guyana. Liza-2 is about 3.3km from Liza-1. Stabroek consists of 26,800sq km (6.6 million acres).
When the play was discovered last year, many analysts called it a play opener and GlobalData's Matthew Jurecky said it redefine the Guyana-Suriname region. “The Liza project will also be well-placed to benefit from any uplift in oil prices post-development. Its commercial success could redefine the basin as a global deepwater production player,” he said in October 2015.
Hess, a partner in the Stabroek block, praised the results of Liza-2.
“In addition to the Liza prospect, we continue to evaluate the resource potential on the broader Stabroek block with additional exploration drilling planned,” said John Hess, CEO, Hess. “We look forward to working with our co-venture partners and the government of Guyana to move this exciting prospect toward a commercialization decision.”
In May 2015, Exxon confirmed a significant oil discovery at its Liza-1 exploration well, where the well encountered more than 295ft (90m) of high quality oil-bearing sandstone reservoirs.
The company revealed its mission to add approximately 450,000 boe/d by next year in March 2016, along with plans to start up 10 new projects in 2016 and 2017.
In February, Exxon added 1 billion boe of proved oil and gas reserves in 2015 for a total of 24.8 billion boe that was a result of new developments, mainly due to its significant Liza discovery.
The Starbroek block, which contains Liza, is operated by ExxonMobil affiliate Esso Exploration and Production Guyana (45% interest). Its partners include Hess Guyana Exploration (30%) and CNOOC Nexen Petroleum Guyana (25%).
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