A Canadian Oil and Gas expert believes that several more significant oil discoveries will be made in the Stabroek Block, offshore Guyana.
Rob Strong, President of Canadian-based Consultancy firm, Rob Strong and Associates, is of the view that Guyana’s future is extremely bright since from all indications, the country is set to become a major oil producer.
Strong, during an exclusive interview with NewsNow on Tuesday at the Marriott Hotel in Georgetown, said the discovery at the Liza-2 Well by Exxon, which amounts to “800 million to 1.4 billion barrels of oil”, is viewed in the industry as an “elephant.” Subsequent discoveries have since been made.
“Liza 1, 2 and 3, which, depending on who you listen to, contain between 800 million and 1.4 billion barrels of oil. In my world that’s an elephant and in geological basins, I use the expression; elephants don’t travel alone, so I am very certain there are more Lizas,” Strong said.
In June 2016 Exxon announced the presence of high quality oil at its Liza-2 well in the Stabroek Block offshore Guyana. Then on January 12, 2017, the company made another announcement of positive results from its Payara-1 well, also located in the Stabroek Block. Exxon said In addition to the Payara discovery, appraisal drilling at Liza-3 has identified an additional high quality, deeper reservoir directly below the Liza field, which is estimated to contain between 100-150 million oil equivalent barrels.
Strong said an oil field is made up of several wells and at this early stage, it would be impossible to tell how far the oil reservoir, in which the discoveries are being made, stretches.
The Canadian consultant is currently in the country assisting the Guyana Oil and Gas Association (GOGA) with the planning and execution of a public lecture series.