August 30th 2018 - Georgetown, Guyana - Hammerhead-1 well encounters 197 feet of high-quality, oil-bearing sandstone. This discovery adds to estimated resource of more than 4 billion barrels.
Another significant discovery by the Stena Carron drillship on the Stabroek block. The Hammerhead-1 well encountered approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 13,862 feet (4,225 meters) depth in 3,773 feet (1,150 meters) of water. The Hammerhead-1 well is located approximately 13 miles (21 kilometers) southwest of the Liza-1 well and follows previous discoveries on the Stabroek Block at Liza, Liza Deep, Payara, Snoek, Turbot, Ranger, Pacora and Longtail.
“The Hammerhead-1 discovery reinforces the potential of the Guyana basin [...] Development options for Hammerhead will take into account ongoing evaluation of reservoir data, including a well test.” - Steve Greenlee, president of ExxonMobil Exploration Company.
The Hammerhead-1 discovery follows a significant discovery with Liza-1 in the Stabroek Block. A second exploration vessel, the Noble Tom Madden, is due to arrive in Guyana in October. This will accelerate exploration of the opportunities in the Guyana Basin, with news of potential additional discoveries to come.
The Guyana basin shows tremendous potential, with an estimated recoverable resource of more than 4 billion oil-equivalent barrels discovered to date. By 2025 there will be an estimated five floating production, storage and offloading (FPSO) vessels producing more than 750,000 barrels per day.
About TOTALTEC
TOTALTEC Oilfield Services is focused on the success of the oil industry in Guyana for the benefit the country, its people, and partner companies. It does this through three areas: people, partnerships, and facilities. Qualified and motivated Guyanese develop through the Academy. Partnerships prioritize products and services that are starting points to grow from, in effectively introduce companies new to Guyana. The Guyana Shore Base facility is now supporting offshore operations.
The 94% Guyanese TOTALTEC workforce includes 8 nationalities with over 160 years of international oilfield experience. https://www.totaltec-os.com
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