The Orinduik block which proved that it is not a one-hit-wonder, has its operator Tullow Oil and other partners, Eco Atlantic and Total, looking at additional drilling targets which were never on the cards prior to exploration efforts.
This assertion was recently made by Eco Atlantic’s Chief Executive Officer (CEO), Gil Holzman.
The official said that that the discovery at the Joe-1 well, opened up a whole new play. He said, “The entire western section of the block is now materially de-risked and…We now see additional targets in the Upper Tertiary play which was not even on the cards before we started.”
As a result of the Joe discovery, Holzman said that the chances of success for the new targets are very high. The CEO said that there is a lot of exploration work to be done while noting that luckily for Eco, it has as its partners, Total and Tullow with their experience and amazing teams. Holzman also said he is excited to go return to the drawing board as be believes that the companies are sitting on a world-class play.
Further to this, Holzman said that the Jethro-1 and the Joe-1 wells speak to the amazing prospectivity of the Guyana basin.
The CEO said, “…But Joe-1 is actually the third oil discovery on our block. The first was the Hammerhead which was drilled by ExxonMobil on the Stabroek Block but it extends into ours. Then we had Jethro that exceeded our expectations. Joe is in the range of our pre-drill estimates. It gives us so much confidence about what is to come.”
The CEO said that drilling two wells with such great levels of success is quite an achievement. He reiterated however that it only gets better from here on.
