have started a 2,550 km2 seismic survey on the Orinduik Block offshore the Republic of Guyana.
The survey is being conducted by Schlumberger (WesternGeco) using R/V GECO Eagle and two supporting vessels, and is expected to be completed within 50 days.
Eco Atlantic holds a 40% working interest in Orinduik, and Tullow, the operator, holds the remaining 60%.
The Orinduik block is located up dip and just a few kilometers from Exxon’s recent Liza and Payara discoveries confirming, by Exxon’s estimates between 2.25 and 2.75 billion barrels of recoverable oil.
The companies have completed the first phase of exploration including evaluating all existing and regional 2D data. Following the results of this study and the ongoing regional success, both parties have agreed to accelerate and significantly increase the originally proposed 1,000 km2 3D survey commitment on the block to circa 2,550 km2, thus covering the entire block area, fully overlapping current prospective 2D leads and downdip trends.
Colin Kinley, COO and co-founder of Eco Atlantic, said: “As previously announced and planned, we are excited to commence this significant 3D survey, which is substantially greater than the committed survey. In addition to further defining and de-risking the existing leads, the survey will hopefully better define potential drilling targets and determine the scale of the resource on the Orinduik Block. We look forward to processing the data and beginning to understand results in the fourth quarter of this year.”