TOTAL ACQUIRES STAKE IN ORINDUIK BLOCK OFFSHORE GUYANA
Total advised that it has exercised option to buy a 25 per cent interest in Orinduik block operated by Tullow Oil offshore Guyana. Following exercise of the option by Total, the Block’s working interests will be as follows: Tullow – 60%, Total – 25%, Eco Guyana – 15%.
According Tullow’s partner Echo Atlantic , the Orinduik is believed to contains an up to 3 billion barrels of oil and gas. Exploration drilling is expected to commence in the third quarter of 2019.
Guyana became one of the world’s most closely watched oil basins after Exxon Mobil discovered more than 4 billion barrels of oil equivalent in its Stabroek licence in recent years.
The 1800km2 Orinduik Block is situated in shallow water (70 to 200m), 170 km offshore Guyana in the Suriname Guyana basin, and is located 11km up-dip from ExxonMobil’s recent Liza discovery and 6km up-dip from Hammerhead discovery. (Source: Stabroek News, Eco)