Senior Vice President of ExxonMobil, Neil Chapman has disclosed that his company intends to drill a total of 10 exploration and appraisal wells for its oil-rich Stabroek Block.
These activities he said will help the offshore contractors to better understand the potential of the concession.
To date, Chapman said 17 of its 18 discoveries have been in the SouthEast region of the Stabroek Block. Importantly, Chapman said that the resources discovered to date are of high quality. The Senior VP said this combined with the size and density of the resource enables a highly capital-efficient development with the potential of extending production plateaus and keeping the production facilities full through integration.
As regards discoveries made in 2019 and 2020, Chapman said that these are Tripletail, Redtail, and Yellowtail and have identified new high-quality reservoirs at greater depth which has opened up new plays.
By mid-year 2021, Chapman said, “We expect to have six drilling rigs in the basin to advance exploration, appraisal, and development activities. It is still early days in the programme but we continue to be very encouraged.”
The Senior VP added, “…We expect the resource potential to be more than double what we have already discovered.” This would work out to more than 18 million barrels of equivalent resources.
