GUYANA-SURINAME BASIN PROBABLY VASTLY UNDERESTIMATED BY 2000 US GEOLOGICAL SURVEY

TORONTO – Unprecedented oil and gas discoveries in the Guyana-Suriname basin since 2000 suggest that the 2000 United States Geological Survey estimates of resources in the basin might have been significantly off course and that the area actually contains mind-boggling amounts of crude oil and gas.

In 2000, the United States Geological Survey (USGS)  identified the Guyana-Suriname Basin as having the second highest resource potential among unexplored oil basins in the world and currently estimated mean recoverable oil reserves of over 13.6 billion barrels of oil and gas reserves of 32 trillion cubic ft.

The United States Geological Survey (USGS) is a science bureau within the United States Department of the Interior. The USGS provides science about the natural hazards that threaten lives and livelihoods; the water, energy, minerals, and other natural resources; the health of ecosystems and environment; and the impacts of climate and land-use change.

Despite the 2000 USGS, in less than five years the ExxonMobil-Hess-CNOOC consortium has discovered more that 6 billion barrels of oil in the Stabroek Block and probably over the 7-billion-barrel mark when the latest announced discovery in December 2019 at the Mako-1 well is finally analyzed.

Even more promising, and a good indication that the Guyana-Suriname Basin has much more oil and gas reserves than was estimated in 2000 for unexplored basins, is that the Tullow-Eco Atlantic-Total consortium has made two discoveries in the Orinduik Block offshore Guyana,  although it was disappointingly heavy crude.

Early in January 2020, the Tullow-Repsol partnership in the  Kanuku Block found lower than pre-estimated amounts of oil but, the group said that it has capped the well and abandoned it.

On December 7, 2020, days after encountering a dry well, with much determination, the Apache Corporation-Total partnership in neighbouring Suriname announced a significant oil discovery at the Maka Central-1 well drilled offshore Suriname, on Block 58.

Apache-Total confirmed that the shallower Campanian interval contains 50 metres (164 feet) of net hydrocarbon-bearing reservoir, adding that preliminary fluid samples and test results indicate light oil and gas condensate with API gravities between 40 and 60 degrees.

Reports say that the USGS is set to conduct and updated survey of the prolific Guyana-Suriname basin which is currently still one of the world’s top hotspots for oil exploration.

In Guyana, #ExxonMobil alone is set to produce 750,000 b/d of crude oil on the #Stabroek Block with 120,000 b/d utilizing the FPSO Liza Destiny in the Liza-1 Field, which commenced production on December 20, 2019; 220,000 b/d utilizing the FPSO Liza Unity in the Liza-2 Field by 2022; and 220,000 b/d with the FPSO Liza Prosperity in the Payara Field in 2023.

ExxonMobil lists its discoveries to date offshore Guyana in the Stabroek Block, which lies in the Guyana-Suriname Basin, as:

·  The Liza discovery was announced in May 2015. Liza-1 well was the first significant oil find offshore Guyana. It encountered more than 295 feet (90 metres) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 metres) in 5,719 feet (1,743 metres) of water. 

·  The Payara discovery was announced in January 2017. Payara is ExxonMobil’s second oil discovery in the Stabroek Block. The Payara- 1 well was drilled in a new reservoir, encountering more than 95 feet (29 metres) of high-quality, oil-bearing sandstone reservoirs. It was safely drilled to 18,080 feet (5,512 metres) in 6,660 feet (2,030 metres) of water.

·  The Snoek discovery was announced in March 2017. Snoek is ExxonMobil’s third oil discovery in the Stabroek Block. The Snoek- 1 well was drilled in a new reservoir, encountering 82 feet (25 metres) of high-quality, oil-bearing sandstone reservoirs. The well was safely drilled to 16,978 feet (5,175 metres) in 5,128 feet (1,563 metres) of water.

·  The Liza Deep discovery was announced in January 2017. An appraisal well, Liza-3, identified an additional high quality, deeper reservoir directly below the Liza field, which is estimated to contain between 100-150 million oil equivalent barrels.

·  The Turbot discovery was announced in October 2017. Turbot is ExxonMobil’s fifth oil discovery in the Stabroek Block. The Turbot- 1 well was drilled in a new reservoir, encountering 75 feet (23 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,445 feet (5,622 metres) in 5,912 feet (1,802 metres) of water.

·  The Ranger discovery was announced in January 2018. Ranger is ExxonMobil’s sixth oil discovery in the Stabroek Block. The Ranger- 1 well was drilled in a new reservoir, encountering approximately 230 feet (70 metres) of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 21,161 feet (6,450 metres) depth in 8,973 feet (2,735 metres) of water. This discovery demonstrated our ultra-deepwater and carbonate exploration capabilities and it proved a new play concept for the Stabroek Block.

·  The Pacora discovery was announced in February 2018. Pacora is ExxonMobil’s seventh oil discovery in the Stabroek Block. The Pacora- 1 well was drilled in a new reservoir, encountering approximately 65 feet (20 metres) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,363 feet (5,597 metres) depth in 6,781 feet (2,067 meters) of water.

·  The Longtail discovery was announced in June 2018. Longtail is ExxonMobil’s eighth oil discovery in the Stabroek Block. The Longtail- 1 well was drilled in a new reservoir, encountering approximately 256 feet (78 metres) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,057 feet (5,504 metres) depth in 6,365 feet (1,940 metres) of water.

·  The Hammerhead discovery was announced in Aug 2018. Hammerhead is ExxonMobil’s ninth oil discovery in the Stabroek Block. The Hammerhead- 1 well was drilled in a new reservoir, encountering approximately 197 feet (60 metres) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 meters) depth in 3,773 feet (1,150 metres) of water.

·  The Pluma discovery was announced in December 2018. Pluma is ExxonMobil’s 10th oil discovery in the Stabroek Block. The Pluma- 1 well was drilled in a new reservoir, encountering approximately 121 feet (37 metres) of high-quality hydrocarbon-bearing sandstone reservoir. Pluma-1 reached a depth of 16,447 feet (5,013 meters) in 3,340 feet (1,018 metres) of water.

·  The Tilapia discovery was announced in February 2019. Tilapia is ExxonMobil’s 11th oil discovery in the Stabroek Block. The Tilapia- 1 well was drilled in a new reservoir, encountering approximately 305 feet (93 metres) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet (5,726 metres) in 5,850 feet (1,783 metres) of water.

·  The Haimara discovery was announced in February 2019. Haimara is ExxonMobil’s 12th oil discovery in the Stabroek Block. The Haimara- 1 well was drilled in a new reservoir, encountering approximately 207 feet (63 metres) of high-quality, gas-condensate bearing sandstone reservoir. The well was drilled to a depth of 18,289 feet (5,575 metres) in 4,590 feet (1,399 metres) of water.

·  The Yellowtail discovery was announced in April 2019. Yellowtail is ExxonMobil’s 13th oil discovery in the Stabroek Block. The Yellowtail- 1 well was drilled in a new reservoir, encountering approximately 292 feet (89 metres) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,445 feet (5,622 metres) in 6,046 feet (1,843 metres) of water.

·  The Tripletail discovery was announced in September 2019. Tripletail is ExxonMobil’s 14th oil discovery in the Stabroek Block. The Tripletail- 1 well was drilled in a new reservoir, encountering approximately 108 feet (33 metres) of a high-quality oil-bearing sandstone reservoir and was drilled in 6,572 feet (2,003 metres) of water.

·  The Mako discovery was announced in December 2019. Mako is ExxonMobil’s 15th oil discovery in the Stabroek Block. The Mako- 1 well was drilled in a new reservoir, encountering approximately 164 feet (50 metres) of a high-quality oil-bearing sandstone reservoir and  was drilled in 5,315 feet (1,620 metres) of water.

According ExxonMobil, the gross recoverable resource for the Stabroek Block is now estimated to be more than six billion oil equivalent barrels, including Liza and other successful exploration wells on Payara, Liza deep, Snoek, Turbot, Ranger, Pacora, Longtail, Hammerhead, Pluma, Tilapia, Haimara, Yellowtail, Tripletail and Mako.

The end of 2019 and the beginning of 2020 brought renewed promise to the Guyana-Suriname area reconfirming it as a world-class basin with the latest  ExxonMobil and Apache finds offshore.

SOURCE|OIL