WesternGeco: Tullow lines up Guyana seismic, 2018 drilling potential

Tullow Oil is planning a 2550sq km 3D seismic survey on the Orinduik Block offshore Guyana, close to ExxonMobil’s giant Liza discovery with plans to drill on the block as early as next year.

According to partner Eco Atlantic Oil & Gas, Tullow will use WesternGeco and the survey will start in the next two weeks.

The Orinduik Block is up dip and just a few kilometers from ExxonMobil’s recent Liza and Payara discoveries confirming, by Exxon’s estimates, in excess of 1.5 billion bbl recoverable. Exxon is expected to make a final investment decision on Liza this month, with first production potentially in 2020 using a floating production, storage and offloading vessel.

Tullow and Eco Atlantic have already shot 2D seismic over the block and have identified two “significant reservoir leads.” Eco Atlantic COO Colin Kinley says they believe that the block could contain discoveries comparable to the “world-class” discoveries made by Exxon nearby.

The firms were already planning a 3D survey, but it would cover just 1000sq km. The increase to 2550sq km will mean covering the entire block area, fully overlapping current prospective 2D leads and downdip trends.

Eco Atlantic Oil & Gas holds a 40% Working Interest in Orinduik, and Tullow, the operator, holds the remaining 60%.

Colin Kinley, COO and co-founder of Eco Atlantic said: “In addition to de-risking the existing two defined targets, the survey will hopefully generate additional targets on the Orinduik Block, thereby increasing the prospective oil in place and adding leads for future work programs. We were keenly interested in this region of the Guyana-Suriname Basin even prior to Exxon’s highly successful drilling program, applying for the Orinduik block in 2014 because of its highly prospective Cretaceous canyon and fan plays. We have since been excited to see Exxon continue to successfully prove out the region in its ongoing drilling program and look forward to results from our own 3D survey, which are expected to come in the next couple of months.

“The 2D interpretation has led to at least two significant reservoir leads on the Orinduik block that both we and Tullow believe may hold significant oil comparable to the world class regional discoveries identified by Exxon. Eco Atlantic expects to confirm a number of drilling targets with this increased 3D Survey, ahead of drilling of the first well in Orinduik, hopefully in 2018.”

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