The notice, the first to be issued under Guyana’s Petroleum Act, declares that Liza is commercial and contains more than 1 Bbbl of oil. It is also the country’s first commercial discovery.
To date three wells have been drilled on the structure, which are a short distance from the offshore Orinduik block that Tullow operates in partnership with Eco Atlantic.
Here a detailed review of regional 2D has established various potentially significant leads in the Orinduik Canyon play fairways that warrant a comprehensive 3D survey, currently planned for 2Q 2017.
Colin Kinley, COO of Eco Atlantic, said: “We teamed up with Tullow Oil on this block, after independently having reached the same conclusions on the prospectivity of what has become the proven system updip of Liza.
“The current leads upon which we are focused are within the same formation that will be developed by ExxonMobil for Liza. We are in shallower water, lowering drilling costs and in the same depositional system as Liza.
“The company looks forward to defining a drilling target through 3D, and our follow-up interpretation with Eco’s and Tullow’s expertise in exploiting slope channel turbidites. [The two companies] are also partners on a similar turbidite canyon and fan play in Namibia on the well-known Cooper block in the Walvis basin, where interpretation of its recent 3D program is well advanced.”