ExxonMobil to drill record wells at Stabroek Block – Rystad Energy

… Like 16 wells awaiting Guyana at sea

Oil giant ExxonMobil is set to drill a record number of wells in the Stabroek Block this year. Their drilling operation included an overall annual record of 16 exploration wells designed for offshore Guyana.
This is according to Norwegian consulting firm Rystad Energy. According to the energy consultant, record numbers of wells are good news despite Guyana starting the year off with a Bulletwood-1 well unable to find any commercial hydrocarbons.
“Guyana’s exploration activity will be led by ExxonMobil as operator of the Stabroek and Canje Blocks. Having set an ambitious $ 15 billion diversion target by unloading mature assets in Asia, Europe and Africa, the US senior captain is expected to prioritize investments in high-value assets such as Stabroek, ”said Rystad.
“The company’s drilling activity will focus on consolidating resources in the southeastern part of the Stabroek Block, where the operator identified deeper plays under existing discoveries and is now eyeing the unexplored northwest parts of the block. In addition, work is lined up on the Canje Block. “
Santosh Kumar, an analyst with Rystad Energy’s upstream team, explained in the statement that based on their data, nearly 300 million barrels of oil have been found for every exploration well drilled on the the sea of ​​Guyana. According to him, with 16 exploration wells in the pipeline, 2021 will be a promising year for exploring Guyana offshore.
Exxon had only recently rubbed a Koebi-1 well in the Stabroek Block using the Stena Carron drill. This particular well was razed on March 3 and drilling is expected to end on March 20.
Another well drilled in the Stabroek Block is the Longtail-2 well. According to a warning from the Department of Maritime Administration (MARAD), this well is being drilled in the Stabroek block by the Stena DrillMax between March 10 and March 27.
Meanwhile, Exxon is engaged in drilling a Jabillo-1 well in the Canje Block, using the Stena Carron drill, from March 10 to March 27. This announcement understands that the Stena Carron will, after drilling the Jabillo-well. 1 and maintenance activities. resume drilling on the Koebi-1 well.
The Jabillo-1 well happens to be the second of three exploration wells Exxon has scheduled for drilling the Canje Block in 2021. The other two are the Bulletwood-1 well and the yet-to-be-named Sapote-1 well. w drilling.

CGX
Meanwhile, Canadian company CGX Energy has plans to do Guyana offshore drilling this year. In fact, the company’s drill operation, due to start in the second half of 2021 with two wells drilled in the Corentyne and Demerara Blocks, is expected to cost some US $ 90 million.
According to CGX Energy, the estimated total cost of US $ 90 million for its 2021 audit program is based on information currently available… an indication that this amount could be subject to change.
In a statement, the company also detailed the two wells that will be drilled. The Kawa-1 well, earmarked for the Corentyne Block, will be drilled to a depth of approximately 6500 meters in 370-meter deep water.
Meanwhile, the Makarapan-1 exploration well will be drilled in the Demerara to a depth of approximately 3500 meters at a water depth of approximately 1000 meters, water significantly deeper than the Kawa-1 well.
CGX and its Joint Venture partner Frontera Energy had previously commissioned an independent report, which revealed that they may be sitting on 4.9 million Oil Equivalent Gaskets (BOE) in the Demerara and Corentyne oil blocks, Guyana.
However, the report hastened to add that there is no guarantee that the company can recover the oil or that it is even commercially viable. According to the report, there are a total of 32 forecasts in both blocks, including 27 in the Corentyne Block and five in the Demerara Block.
CGX, which was under pressure due to a drilling delay in the Corentyne oil block, is working to a deadline on November 27, 2021, and is now expected to start drilling in the Corentyne Block.