ExxonMobil, the largest US oil company, makes three new discoveries containing hydrocarbons and raises Stabroek's resource estimate to nearly 11 billion barrels of oil

Flavia Marinho
27-04-2022 15:38:50
in Oil, Oil and Gas
ExxonMobil - oil - Guyana - refining - USA - VACANCIES - Offshore Oil Platform – ExxonMobil Image

scontinued success validates the ambitious exploration strategy of ExxonMobil, which increases the estimate of the Stabroek Block to nearly 11 billion barrels of oil

ExxonMobil, the US oil giant, reported yesterday (26/04) in a relevant fact to the global market that it found, in 1,170 meters of water, in the Barreleye-1 well, sandstone containing hydrocarbons. Drilling at Patwa-1 found sandstone containing hydrocarbons in 6,315 feet (1,925 meters) of water. The Lukanani-1 well encountered 115 feet (35 meters) of sandstone containing hydrocarbons and was drilled in a water depth of 4,068 feet (1,240 meters). Operations are ongoing at Barreleye-1 and Lukanani-1.

The three discoveries are southeast of the Liza and Payara developments and lead to five discoveries made by ExxonMobil in Guyana in 2022.

“These discoveries and the updated resource estimate add to the confidence we have in our ambitious exploration strategy for the Stabroek Block and will help inform our future development plans for the southeastern part of the block,” said Liam Mallon, president of ExxonMobil Upstream Company. . “ExxonMobil remains committed to delivering value at an accelerated pace to the people of Guyana, our partners and shareholders, and providing affordable energy reliably to meet growing demand around the world.”

Oil blocks in Guyana explored by the largest US oil company promise to produce more than 800,000 barrels a day by 2025

ExxonMobil currently has four sanctioned projects in Guyana. Liza Phase 1 is producing approximately 130,000 barrels per day using the Liza Destiny Floating Production Storage and Offloading Vessel (FPSO). Liza Phase 2, which began production in February, is steadily increasing its capacity to 220,000 barrels per day using the FPSO Liza Unity. The third project, Payara, is expected to produce 220,000 barrels a day; construction on its production vessel, the Prosperity FPSO, is running approximately five months ahead of schedule, with start-up likely before year-end 2023. The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the ONE GUYANA FPSO start operating in 2025.

O Guyana's Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil's affiliate, Esso Exploration and Production Guyana Limited, is the operator and holds a 45% stake in the Block. Hess Guyana Exploration Ltd. holds a 30% stake, and CNOOC Petroleum Guyana Limited holds a 25% stake.

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Flavia Marinho
Production Engineer post-graduated in Electrical Engineering and Automation. Experienced in the onshore and offshore shipbuilding industry. Get in touch for a suggestion of an agenda, disclosure of job vacancies or advertising proposal on our portal.