Tullow strikes oil at Jethro-1 well

DPI, Monday, August 12, 2019

Guyana’s oil reserves continue to increase as Tullow Guyana B.V struck liquid gold at the Jethro-1 exploration well.

This was announced by Director, Department of Energy, Dr. Mark Bynoe. According to the release, the exploration well which was drilled in the Orinduik Block has discovered oil in commercial quantities. The well, encountered 55m of net oil pay which supports a recoverable oil resource estimate that exceeds Tullow’s pre-drill forecast.

The Jethro-1 well was drilled by the Stena Forth drillship to a total depth of 4,400 metres in approximately 1,350 metres of water. It is the first discovery on the Orinduik Block and comprises high-quality oil-bearing sandstone reservoirs of Lower Tertiary age.

The Energy Director deemed the oil find as “a major development for the Co-operative Republic of Guyana as it adds to the further de-risking of the deep and ultra-deep zone.”

This, he said, offers significant potential for the diversification of Guyana’s hydrocarbon base.

He expressed the department’s commitment to working to ensure that the resources obtained are utilised for the benefit of all Guyanese.

“The Department of Energy [DE] is encouraged by the prolific rate of discovery in the CRG and will continue to work assiduously and conscientiously to extract optimum value from these resources for all the peoples of our country,” the Director said.

Dr. Bynoe noted that this new discovery demonstrates the vastness of Guyana’s natural resources while reminding that Guyanese stand to benefit significantly from these oil finds.

Tullow will now evaluate the data from the Jethro-1 discovery and determine the appropriate appraisal activity.

It was 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 is expected to commence there later this month after the completion of operations at the Jethro-1 well.

The discovery of oil reserves at the Jethro-1 well is the fourth for 2019 and brings the total number of offshore wells to 14. Guyana’s oil production projection is expected to increase as there is a continued exploration in the Stabroek block by ExxonMobil. CGC Energy is slated to begin exploration exercises in the Canje block before the end of the year.

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