Multiple Prospects and Play Types Offshore Guyana
The Stabroek Block, located approximately 120 miles offshore Guyana, is 6.6 million acres (26,800 square kilometers). It is equivalent in size to 1,150 Gulf of Mexico OCS blocks and contains multiple prospects and play types. Esso E&P Guyana Ltd is the operator and has a 45 percent working interest, while Hess Guyana Exploration Ltd has 30 percent interest and Nexen Petroleum Guyana Ltd has 25 percent interest.
The first exploration well drilled on the Stabroek block, Liza-1, resulted in a significant oil discovery, logging 295 feet of high quality oil-bearing sandstone reservoir. The second well, Liza-2, encountered more than 190 feet (58 meters) of oil-bearing sandstone reservoirs in Upper Cretaceous formations. An extensive well evaluation program was performed and it confirmed Liza to be a world-class oil discovery with estimated gross recoverable resource between 800 million and 1.4 billion barrels of oil equivalent. A third well was spud in September 2016 to further appraise the discovery.