The latest discovery by Tullow Oil and its other partners, Eco Atlantic and Total, on the Orinduik Block proves once again that Guyana is a world-class petroleum province, says Director of Global Exploration at Wood Mackenzie, Julie Wilson.
Significantly, the official noted that the success made at the Jethro-1 well provides further evidence that the Guyana basin carries multiple play types that hold commercially-viable volumes. Elaborating further, Wilson said that Tullow targeted Lower Tertiary formations, and the well encountered a high-quality reservoir, which will help to keep down development costs.
Wilson said, “The Orinduik Block is an up-dip of ExxonMobil’s Stabroek Block. Orinduik’s prospects are in channel sands, rather than basin floor fans. This means that they will individually be smaller in size – a couple of hundred million barrels of oil equivalent rather than billion-plus. The Jethro-1 is also analogous to ExxonMobil’s Hammerhead discovery, also in the Tertiary, which extends into Tullow’s Orinduik block.”
The Director noted that Tullow has a track record of delivering fast-track offshore projects, notably the Jubilee development, offshore Ghana. On this note, Wilson commented that the announcement of the Orinduik discovery comes 12 years after the Jubilee discovery Tullow made in the West African Transform Margin. She said that Tullow is finally rewarded for its belief that the margin is mirrored on the Latin American side of the Atlantic.