Offshore staff
TORONTO– Tullow Oil and partner Eco (Atlantic) Oil & Gas have sanctioned a 2,550-sq km (984-sq mi) 3D seismic survey over the Orinduik blockoffshore Guyana.
WesternGeco should start acquisition in the next two weeks.
The block is a few kilometers from ExxonMobil’s recent deepwaterLiza and Payara discoveries, thought to hold more than 1.5 Bbbl of recoverable oil.
During the initial exploration phase Tullow and Eco (Atlantic) assessed all available regional 2D data, as a result of which they agreed to accelerate and increase their originally proposed 1,000-sq km (386-sq mi) 3D survey commitment to cover the entire block area, fully overlapping current prospective 2D leads and downdip trends.
Tullow will carry Eco (Atlantic)’s share of costs up to $1.25 million.
Colin Kinley, COO 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 theGuyana-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…
“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.”
06/08/2017
