The Ranger oil discovery demonstrates that the petroleum system
is working in a new geologic play in the Guyana Basin more than 60 miles northwest of Liza, and reaffirms the extraordinary exploration potential of the Stabroek Block, CEO John Hess said.
The Tumbes Basin has a proven working petroleum system
and evidence suggests the prospects in Z-38 are accessing the same source rocks as the giant onshore Talara Basin fields.
Zion's Megiddo-Jezreel License area, though onshore, is entirely within the Levant Basin and is well positioned to encounter the key geologic ingredients of an active petroleum system
An integrated approach has been deployed to investigate lithology and petroleum system
potential of the Chorgali Formation using surface outcrop and subsurface geophysical data at different locations of the Potwar Plateau.
Chbat explained that the surveys were able to confirm the similarities between an existing petroleum system
and discoveries in Syria -- the Palmerite basin -- with the onshore of Lebanon.
Furthermore, this result materially upgrades the prospectivity of the block with a proven petroleum system
and a number of deep fan and shelf prospects established," the spokesman added.
The TAO-1 well is located within a proven petroleum system
, adjacent to the Cap Juby heavy oil discovery and has been designed to test up to 3 stacked objectives, Assaka (Upper Jurassic), Trident (Middle Jurassic) and TMA (Lower Jurassic, contingent upon success at Trident/Assaka).
Last year the first oil sample in the country was discovered by a Brazilian Oil and Gas Company HRT, though not commercially viable, proving the existence of two mature source rocks in the oil generating window thus confirming that there is an active petroleum system
in the basins where the wells were drilled.
The objective behind the well, which was drilled to its final depth into the Cambrian formation, was to prove the presence of movable hydrocarbons and a working petroleum system
within the block.
Although this petroleum system
has been proven, the challenge is field size.
The well confirmed the existence of an active petroleum system
but did not encounter reservoir rocks, the company said.
The occurrence of oil seepage in the Mindoro region also confirms the presence of an active petroleum system
in the area, it added.