Exxon to commence drilling of third well in September


The data collected from ExxonMobil’s second exploration well in the Stabroek block offshore Guyana (Liza 2), supports progressing early Liza development, including advancing of a third well, the Lisa 3.


This was reported to the media by ExxonMobil’s Country Manager, Jeff Simons, during a media luncheon, organised by the oil company, at Cara Lodge, today.


Simons on Tuesday, reported that the tests on the Liza 2 were completed in July, and further, the data has given the oil company the confidence to go forward with the development, including embarking on the drilling of a third well (the Liza 3) and advancing engineering work with leading contractors on offshore development. This includes developing a new Floating Production, Storage and Offloading (FPSO) oil tanker to work at the Stabroek Block. An FPSO is a floating vessel used by the offshore oil and gas industry for the production and processing of hydrocarbons, and for the storage of oil.


Tuesday’s event is part of a series of engagement the company initiated, beginning in July, with local stakeholders, including the government and commercial interests, aimed at updating them on the progress made, since the Lisa 1 well discovery was announced in May 2015.


Following the Liza 1 well, oil discovery, ExxonMobil, commenced the drilling of the Liza 2. This second well was dug to allow the oil company to confirm, the results of Liza 1, but in a different location. The Liza 2, was drilled approximately two miles (3.3 km) from the Liza 1.


Simons explained that the Liza 3 will be dug on the far northern corner of the Liza development field.  The other earlier wells were more to the south of the Stabroek block.


The ExxonMobil Country Manager explained that this third well will “demonstrate competency in a larger proportion of the Stabroek Block field” as well as give the oil company more information, as to the exact size of the oil discovery.


At present, ExxonMobil has been averaging the oil discovery, to be about 800 million to more than 1.4 billion barrels of oil.


Exxon is set to begin drilling the Lisa 3 in September.


The company is expected to begin full oil production by 2020.


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