ExxonMobil conducting 3D/4D seismic surveys in Stabroek Block

– to continue mapping block throughout 2023

With an estimated 11 billion-plus barrels of oil equivalent (boe) recoverable resource, it is widely believed that there is more oil to be found in the Stabroek Block. As such, ExxonMobil is currently conducting both 3D and 4D seismic surveys, with a view to determining where that oil is.
The Maritime Administration Department (MARAD) released a notice in which they announced that as of April 20, 2023, Exxon subsidiary Esso Exploration and Production Guyana Limited (EEPGL) would be conducting its 3D/4D seismic surveys in the Stabroek Block.

It was explained that the surveying will conclude on December 31, 2023, and will use five vessels – seismic survey vessels Sanco Spirit, OSV Moonrise G, MPV Rem Saltire, seismic support vessel 7 Oceans and the OSV Atlantic Liberty.
“The survey area is situated approximately 85.58 nautical miles (158.0 kilometres) from the coast of Guyana, and covers an area of 2527.25 square nautical miles (8668.23 square kilometres) … All mariners are required to stay clear of these vessels and navigate with extreme caution when in the vicinity,” MARAD said.
Back in 2021, ExxonMobil had contracted Norwegian company Petroleum and Geo-Services (PGS) to provide one of their Titan class ships for 4D seismic surveys in the Stabroek Block offshore Guyana.
EEPGL is currently seeking authorisation from the Environmental Protection Agency (EPA) for 35 exploration/appraisal wells in the Stabroek Block. According to EEPGL’s application, if all requisite approvals are granted then the drilling of the wells is expected to start in the third quarter of 2023, with the proposed drilling campaign coming to an end by the fourth quarter of 2028.
The Cumulative Impact Assessment (CIA) of the 35 exploration/appraisal wells planned for the Stabroek Block, was done by ERM Guyana, which conducts environmental, health, safety, and risk assessments. It had said that no major environmental impacts would result from the project.
Guyana, with US oil giant ExxonMobil as the operator, began producing oil on December 20, 2019, in the Stabroek Block. Guyana’s oil revenues are being held in the Natural Resource Fund (NRF) at the New York Federal Reserve Bank, where it is earning interest.
The Stabroek Block is 6.6 million acres (26,800 square kilometres). EEPGL is the operator and holds 45 per cent interest in the Block. Hess Guyana Exploration Ltd holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds the remaining 25 per cent interest.
Since last year, Guyana has been recording weekly lifts in the Stabroek Block with oil production now at 340,000 barrels per day from the Liza Destiny and Liza Unity floating production, storage and offloading (FPSO) vessels. With EEPGL making weekly lifts, Guyana’s crude entitlement of one million barrels occurs monthly from the two FPSOs.
ExxonMobil has said it anticipates at least six projects offshore Guyana will be online by 2027. Production has already started in the second phase, with the Liza Unity FPSO vessel in operation.
The third project – the Payara Development – will target an estimated resource base of about 600 million oil-equivalent barrels and was at one point considered to be the largest single planned investment in the history of Guyana.
Meanwhile, the Yellowtail Development, which will be oil giant ExxonMobil’s fourth development in Guyana’s waters, will turn out to be the single largest development so far in terms of barrels per day of oil, with a mammoth 250,000 bpd targeted.
The Uaru oil development, which will be the fifth one for the company offshore Guyana, is targeting between 38 and 63 development wells, including production, water injection, and gas re-injection wells. Exxon had previously also made known that they anticipate the first oil from the Uaru development by late 2026 or early 2027. (G3)