Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
FWIW one of the support vessels Pacific Leader is off the coast of Trinidad.
https://marad.gov.gy/wp-content/uploads/2019/05/No.-38_2019_Tullow_Guyana_B.-V_Drilling.pdf
“Eco will be a prime takeover candidate. Even if Gil Holzman wants to keep Eco the amount of interest in Guyana...there will be people lining up to make offers ...” Africa Oil CEO Keith Hill
Renegotiate, rescind, reimburse, then auction off so that Guyana reaps the maximum value from its oil blocks, is the advice that petroleum expert Dr Jan Mangal drilled into those who attended his presentation at the Guyana Petro-leum Summit in Houston, Texas on Thursday.
Rescind some of the highly questionable awards of oil blocks, without making it a witch-hunt. Reimburse those involved for reasonable expenses and losses. Then auction the blocks properly so Guyana can get the real value,” Mangal said.“Countries commonly re-negotiate oil and gas contracts. The oil companies and their agents prefer for people to think it is taboo and impossible,” he said.
Hard what to make of a report from an anonymous govt official, unconfirmed....
It appears that the Liza Phase 2 permit was officially granted after both companies held their first quarter 2019 earnings calls – Hess on Thursday morning and ExxonMobil on Friday morning.
“Yes it is true. They have met all the requirements as requested, including approval of their plan for development from the Department of Energy,” EPA head Dr Vincent Adams told Stabroek News when contacted yesterday.
https://www.stabroeknews.com/2019/news/guyana/04/29/exxons-liza-phase-2-approved/
Might be worth noting that chevron's $33B purchase of Anadarko means its will now have the Roraima block off Guyana. Anadarko has not done anything with it since its seismic vessel was detained by Venezuela in 2013.
This is really helpful. Does this mean Hammerhead will jump ahead of other wells in terms of starting production?
Notes on Guyana's Department of Energy Press Conference February 11 2019
*With 11th and 12th discoveries reserves are “way in excess of 5B barrels” says DoE head Bynoe. Says Turbot area is being viewed as the centre of a gas export scheme as there is “more associated gas in these fields than previously projected”. The API varies among the discoveries so some gas will have to be re-injected as in the case at Hammerhead “where the viscosity is somewhat heavier’”.
*Bid round for Block C (ultra deep water)and some possible relinquished areas as well as shallow shelf blocks to be done by Q12020. Delay is to get new legislation in place rather than have 1986 law. Every major operator has shown an interest in Block C (Chevron included) Seems they are looking at having royalty as a biddable term. Department also plans a multi-client seismic survey (for shallow shelf) which will take 11 to 12 months and will determine how they then cut up acreage
Question...what can we read by depth of reservoir?. The Tilapia 1 is deeper at 305 ft than Liza 1 and Haiamra is 2017
Discoveries by depth
Tilapia-1 305
Liza-1 295 ft
Longtail-1 256 ft
Ranger-1 230 ft
Haimara-1 207 feet
Liza-3 200 ft
Hammerhead-1 197 ft
Liza-2 190 ft
Pluma 121ft
Payara-1 95 ft
Snoek 82 ft
Turbot-1 79 ft
Pacora-1 65 ft
Payara-2 59 ft
Yes, but will it be enough for Exxon to take the chance to send the ships back in? If not that area will be off limits for years.
It's also worth noting that CNOOC is part of the consortium in the Stabroek Block and while America has little influence over Venezuela right now China does.
I have not seen whether that is the case but my feeling is Venezuela will only interfere when there is activity close to its border as was the case with Anadarko and yesterday. As such Eco/Tullow operations should not be affected. Exxon has taken a chance to test the Venezuelan resolve and it has not worked out. That's all. But it is hard to see now how the Western portion of the Stabroek Block will be opened up until the ICJ ruling.
It's a good point...given the weakness of the Maduro administration and the strong case Guyana has over an issue settled since 1899, maybe they thought it was worth the chance to test the waters...after all Ranger is close to or within the area being claimed and they drilled that without any fuss. It may well be they may now have second thoughts to explore that further. For sure it's a set back.
OilNow has learnt that the Venezuelan military has arrested a seismic vessel which is contracted to ExxonMobil and which was carrying out survey works in the offshore Guyana Basin.“At this time, seismic operations on the Stabroek Block offshore Guyana have been paused until they can be safely continued,” said ExxonMobil.
The government is investigating reports of an incursion into Guyanese territory by the Venezuelan military. Foreign Affairs Minister Carl Greenidge confirmed to the News Room that he was looking into this “urgent” matter."News Room understands that the Venezuelan military approached one of the vessels sub-contracted by ExxonMobil, the American oil giant which has so far discovered an estimated five billion barrels of oil and is gearing up to begin production in just over a year from now.
What can we learn from the "121 feet (37 meters) of high-quality hydrocarbon-bearing sandstone reservoir" number as it compares to previous discoveries?
Did you note the way the Hess executive said the DST was 'good" To me it sounded like there were some reservations there.
I think it is actually Haimara..several of the wells are called after local fish.