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ExxonMobil’s first well in the Canje Block, Bulletwood-1, has turned out unsuccessful with reservoirs found but no commercial hydrocarbons.
This is according to an update provided by Public and Government Affairs Advisor at Esso Exploration and Production Guyana Limited (EEPGL), Janelle Persaud on Thursday.
“Bulletwood-1, the first well in the Canje block has confirmed our seismic interpretation of the geology and shown evidence of non-commercial hydrocarbons. Geologic risk is inherent to frontier oil and gas exploration activities. Every well in frontier oil and gas exploration provides invaluable data to inform future activities,” the company stated.
Bulletwood-1 is the first well in a multi-well, fully-funded, drilling campaign being operated by ExxonMobil on the Canje Block. According to analysts, Bulletwood-1 was a 500 MMbbl oil prospect targeting a Liza lookalike.
Exxon Mobil says that its exploration success in Guyana is 80 percent with 18 discoveries on the Stabroek block.
It plans to continue to leverage its deepwater expertise and advanced technology to explore frontier environments with the highest value resource potential.
The Canje Block lies 180-300 kilometres offshore Guyana in deep to ultra-deep water in an area covering 4,800 square kilometres in water depths of 1700-3000 metres.
The Canje Block is operated by ExxonMobil (35%), with Total (35%), JHI (17.5%), and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.