By Oke Peter
ExxonMobil Corporation today announced it had made a fifth new oil discovery after drilling the Turbot-1 well offshore in Guyana.
Turbot is ExxonMobil’s latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep.
Following completion of the Turbot-1 well, the Stena Carron drillship will move to the Ranger prospect. An additional well on the Turbot discovery is being planned for 2018.
ExxonMobil affiliates Esso Exploration and Production Guyana Limited, began drilling the Turbot-1 well on August 14 and has encountered a reservoir of 75 feet (23 meters) of high-quality, oil-bearing sandstone in the primary objective.
The well was safely drilled to 18,445 feet (5,622 meters) in 5,912 feet (1,802 meters) of water on September 29.
The Turbot-1 well is located in the South Eastern portion of the Stabroek Block, approximately 30 miles (50 kilometers) to the South East of the Liza phase one project.
President of ExxonMobil Exploration Company, Steve Greenlee, said:
“The results from this latest well further illustrates the tremendous potential we see from our exploration activities offshore Guyana. “ExxonMobil, along with its partners will continue to further evaluate opportunities on the Stabroek Block.”
The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Limited holds 30 per cent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 per cent interest.