There has been another oil discovery offshore Guyana, but this time, the discovery has been made in the Orinduik block by the Tullow Oil company.
Director of the Department of Energy, Dr. Mark Bynoe made the announcement this morning.
The drilling in the Orinduik Block offshore Guyana has discovered oil in commercial quantities, according to the Department of Energy.
According to Dr. Bynoe, “this is a major development for Guyana as it adds to the further de-risking of the deep and ultra-deep zone“.
He said the discovery also offers significant potential for the diversification of the country’s hydrocarbon production base.
With this new find, Tullow will now evaluate the data from the Jethro-1 discovery and determine the appropriate appraisal activity.
Dr. Bynoe indicated that the Jethro discovery significantly de-risks other Tertiary age prospects on the Orinduik Block, which includes the shallower Upper Tertiary Joe prospect. Drilling should begin there later this month after the completion of operations at the Jethro-1 well.
The Carapa-1 well will be drilled later this year on the adjacent Kanuku licence. Tullow Guyana B.V. operates the Orinduik block with a 60 per cent stake. Total E&P Guyana B.V. holds 25 per cent stake while the remaining 15 per cent is being held by Eco (Atlantic) Guyana Inc.
The latest discovery surpassed the expectations of the Tullow Oil company.