Page 7 - LatAmOil Week 30 2022
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LatAmOil                                         GUYANA                                            LatAmOil



                         ExxonMobil did not specify the location of the   first development target, in December 2019 and
                         drilling sites beyond noting that both of the new   then brought Liza-2, the second development
                         finds were located south-east of the Liza and   target, on stream in February 2022. The third
                         Payara fields. However, Hess, the US independ-  target, Payara, is due to follow suit in late 2023
                         ent that has a non-operating stake in the project,   and Yellowtail, the fourth, in 2025. Uaru, the
                         disclosed in a separate statement that Seabob-1   fifth, may begin production in 2026. ™
                         had been drilled at a site about 19 km south-
                         east of Yellowtail, while Kiru-Kiru-1 had been
                         drilled around 5 km south-east of Cataback.
                           The statement did not reveal the likely size of
                         the three new fields. But Liam Mallon, the pres-
                         ident of ExxonMobil Upstream Co., expressed
                         satisfaction with the new finds. “ExxonMobil
                         and its partners continue to accelerate explo-
                         ration, development and production activities
                         for the benefit of all stakeholders, including the
                         people of Guyana,” he said. “The resources we
                         are investing in and discovering offshore Guy-
                         ana will provide safe, secure energy for global
                         markets for decades to come.”
                           John Hess, the CEO of Hess, also struck an
                         upbeat note. “We are excited to announce two
                         more discoveries on the Stabroek Block, bring-
                         ing our total this year to seven,” he commented.
                         “These discoveries will add to the discovered
                         recoverable resource estimate for the block of
                         approximately 11bn barrels of oil equivalent
                         [boe], and we continue to see multi-billion bar-
                         rels of future exploration potential remaining.”
                           Equity in the Stabroek project is divided
                         between ExxonMobil, the operator, with 45%;
                         Hess, a US-based independent, with 30%; and
                         state-run China National Offshore Oil Corp.
                         (CNOOC), with 25%.
                           The US giant and its partners have already
                         made more than 25 commercial discoveries
                         at Stabroek since they first struck oil at Liza in
                         2015. They launched production at Liza-1, their   Both of the new discoveries lie south-east of the Liza oilfield (Image: Hess)


       Guyanese minister touts Yellowtail




       permit’s capping stack requirement






                         GUYANA is on track to become the only hydro-  Latin American and Caribbean region has a
                         carbon-producing state in the region to have a   capping stack available on site. The equipment
                         capping stack, a sophisticated piece of equip-  can only be transported from the US to author-
                         ment used to help contain catastrophic spills,   ised users, and this process takes at least 10 days
                         available in country, according to Minister of   because capping stacks are very large, with each
                         Natural Resources Vickram Bharrat.   unit weighing 50-100 tonnes, he said.
                           Bharrat noted earlier this week that a sub-  “There is no other oil-producing nation
                         sidiary of ExxonMobil (US) had agreed to bring   around us” with direct access to such equip-
                         the capping stack to Guyana as a condition of its   ment, the minister was quoted as saying by Oil-
                         permit for work at Yellowtail, the fourth devel-  NOW.gy. “Trinidad [and Tobago] does not have
                         opment target at the Stabroek offshore block.   a capping stack, nor Brazil or Suriname. Most
                         A key provision of the permit states that Esso   of these countries pay the subscription, and the
                         Exploration & Production Guyana Ltd (EEPGL)   capping stack is in Houston or another part of
                         must maintain, test and store the capping stack   the world.”
                         within Guyana, he explained.           Guyana will also be paying a subscription to
                           Currently, he added, no other country in the   ensure access to the capping stack, he noted.



       Week 30   27•July•2022                   www. NEWSBASE .com                                              P7
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