The well, which is ExxonMobil’s second oil discovery on the Stabroek Block, is located about 16 km northwest of the 2015 Liza discovery.
Drilled by ExxonMobil affiliate Esso Exploration and Production Guyana in a new reservoir, the well targeted similar aged reservoirs proved at the Liza discovery.
At Payara-1 well, the Stena Carron drill ship encountered more than 95 feet of high-quality, oil-bearing sandstone reservoirs. The well was drilled safely to 18,080ft in 6,660ft of water.
ExxonMobil Exploration Company president Steve Greenlee said: “This important discovery further establishes the area as a significant exploration province.
“We look forward to working with the government and our co-venturers to continue evaluating broader exploration potential on the block and the greater Liza area.”
ExxonMobil said that an appraisal drilling at an additional well, Liza-3, encountered high quality, deeper reservoir directly below the Liza field. It is estimates to hold resources between 100-150 million oil equivalent barrels.
Esso Exploration and Production Guyana operates the Stabroek Block with 45% stake while other partners include Hess Guyana Exploration with 30% interest and CNOOC Nexen Petroleum Guyana 25%.
Greenlee added: “These latest exploration successes are examples of ExxonMobil’s technological capabilities in ultra-deepwater environments, which will enable effective development of the resource for the benefit of the people of Guyana and our shareholders.”
The partners are planning to commence production testing at the Payara field to further evaluate the discovery, following which appraisal drilling is planned later this year to assess the full resource potential.
Image: The Stena Carron drill ship at sea. Photo: courtesy of Hess Corporation.
