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Dr. Mark Bynoe, Director of the Department of Energy, today announced that the UK-based Tullow Oil plc (Tullow) Joe-1 exploration well has discovered a new oil deposit in the United States. Upper Tertiary in the Guiana Basin.
This is the second discovery of oil in two wells operated by Tullow, in less than six weeks, said this morning a statement from the Ministry of the Presidency.
"The Cooperative Republic of Guyana continues to be encouraged by the prolific rate of discovery in our country. All Guyanese can rest assured that the government will continue to work conscientiously to apply the most effective and profitable marketing strategies in Guyana to transform our economy and implement sustainable development programs that all Guyanese can benefit from " said Bynoe.
The Joe-1 exploration well was drilled by the Stena Forthdrillship at a total depth of 2,175 meters in a water depth of 780 meters. The evaluation of logging and sampling data confirmed that Joe-1 had encountered 14 meters of net oil load in high-grade sandstone sandstone reservoirs dating back to the Upper Tertiary, the statement said.
Bynoe said that the Joe-1 well was the first oil discovery in the Upper Tertiary's game type, which further downplayed the risks to the western area of the Orinduik block, where a significant number of age perspectives of the Tertiary and Cretaceous have been identified.
"Guyana's future is bright, but more importantly, it's time for all Guyanese to focus on how they want to see their oil revenues spent and invested," said Bynoe.
The statement added that the Repsol-operated Carapa-1 well on the Kanuku permit (37.5% at Tullow) is expected to begin drilling at the end of September with the Rowan EXL II jackup platform and that He will test the Cretaceous oil field in the fourth quarter of this year.
Bynoe added that Tullow and its partners will now be evaluating the Joe-1 discovery data alongside the Jethro-1 discovery data announced in August 2019 and will wait for the results from the Carapa well to determine the exploration and development program. appropriate follow-up evaluation.
The well was drilled on the Orinduik permit by the wholly owned subsidiary of Tullow, Tullow Guyana B.V. Tullow Guyana B.V. is the operator of the Orinduik block, with a 60% stake. Total E & P Guyana B.V. holds 25%, the remaining 15% being held by Eco (Atlantic) Guyana Incorporated.
ANGUS MCCOSS, DIRECTOR OF THE EXPLORATION OF TULLOW, BEGIN TODAY & # 39; HUI:
"I am very pleased that we have made successive discoveries in Guyana and that we have successfully opened a new shallow game in the Upper Tertiary of the Guyana Basin with our second well. The Joe-1 discovery and its surrounding prospects represent another area of significant potential in the Orinduik block and we look forward to the next phase of the program as we continue to unleash the potential for several billion barrels of this area. "
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