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8th oil discovery made in Stabroek Block offshore Guyana

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8th oil discovery made in Stabroek Block offshore Guyana

An eighth oil discovery was found offshore Guyana at the Longtail-1 exploration well, creating the potential for additional resource development in the southeast area of the 6.6 million-acre Stabroek Block.

The Longtail-1 well is approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza, Payara, Liza Deep, Snoek, Turbot, Ranger and Pacora.

Longtail drilling results are under evaluation; however, the combined gross recoverable resources of Turbot and Longtail are estimated to exceed 500 million barrels of oil equivalent, according to a June 20 news release.

Following completion of the Longtail-1 well, the Stena Carron drillship will move to drill the Hammerhead-1 well approximately 9 miles southwest of the Liza discovery. The operator plans to add a third drillship that will operate in parallel to the Stena Carron to explore the Block’s numerous high value prospects.

Esso Exploration and Production Guyana Ltd. and owns a 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds a 30% interest and CNOOC Nexen Petroleum Guyana holds a 25% interest.