WoodMac On Guyana And Suriname Exploration

(WoodMac, 29.Jul.2021) — Wood Mackenzie’s Latin America upstream senior analyst Luiz Hayum commented on the latest exploration results offshore Guyana and Suriname:

“In a year thin of deepwater discoveries, Guyana and Suriname continue to deliver great exploration results, with the Whiptail discovery and the successful Sapakara appraisal.

“The two successful wells will substantiate future development modules under planning, and they could be put in production in less than five years.

“The Whiptail-1 well encountered the fifth-longest net oil pay (75 metres) of Guyana’s 21 Stabroek Block discoveries, indicating a large discovery. The operator has also completed the Whiptail-2 appraisal well, confirming the long oil column and areal extent.

ExxonMobil will continue to deepen the two wells to additional horizons. Depending on the final results, Whiptail could be incorporated into the fifth development module (Uaru and Mako) or be developed via a new hub.

“In Suriname, TotalEnergies approaches the final investment decision for its first development module. The Sapakara South-1 well found 30 metres of net oil pay in Campanian-Maastrichtian sands, supporting the decision. The well had a similar result to 2020’s Sapakara West-1 well in the Campanian, but didn’t repeat the success in deeper Santonian sands.”