Basin Potentials

Multibillion barrels of additional exploration potential is still remaining in the highly prospective Guyana Basin. Since the 2015 Liza discovery, activity in the Guyana Basin has increased significantly with enhanced exploration drilling. Twenty exploration wells have been drilled on the Stabroek Block where 18 large-scale commercial discoveries have been made. Over 8 billion publicly disclosed barrels of oil equivalent have been discovered. In December 2018 on the Stabroek Block, the Pluma well found 37 meters (121 feet) of high-quality hydrocarbon-bearing sandstone reservoir approximately 2 miles from the Corentyne Block. Additionally on the Stabroek Block in February 2019, the Haimara well found 63 meters (207 feet) of high-quality gas-condensate bearing sandstone reservoir approximately 8 miles from the Corentyne Block. In addition to the Stabroek discoveries, in January 2020 on Block 58, the Maka Central well made a significant oil discovery offshore Suriname approximately 7 miles from the Corentyne Block. This was followed in April 2020 with an announcement of Sapakara West-1 well with at least 79 meters (259 feet) of net oil and gas condensate pay in two intervals approximately 20 miles from the Corentyne Block. In July 2020, the Kwaskwasi well was reported to have at least 278 meters (912 feet) of net oil and volatile oil / gas condensate pay in two intervals approximately 15 miles from the Corentyne Block. Additionally in January 2020, the Carapa-1 exploration well, drilled on the Kanuku Block offshore Guyana, announced approximately 4 meters of net oil pay. This extended the prolific Cretaceous oil play further to the southwest. In late 2019, Jethro and Joe wells discovered oil in Tertiary reservoirs. Overall in the Guyana Basin since 2015, there has been a steady increase in the discovered resource barrels found.

Image - Basin Potential - Activity Map_14_Oct_2020_v2