ExxonMobil Achieves Three New Discoveries in Guyana

ExxonMobil Achieves Three New Discoveries in Guyana

ExxonMobil has made three additional discoveries offshore Guyana, bringing its total recoverable resource estimate for the Stabroek Block to roughly 11 billion oil-equivalent barrels.

Located southeast of the Liza and Payara developments, these three discoveries have brought the total number of ExxonMobil’s discoveries in Guyana to five in 2022.

The Barreleye-1 well was drilled in 3,840 feet (1,170 meters) of water and encountered roughly 230 feet (70 meters) of hydrocarbon-bearing sandstone. Patwa-1 was drilled in 6,315 feet (1,925 meters) of water and encountered 108 feet (33 meters) of hydrocarbon-bearing sandstone. The Lukanani-1 well was sunk in a water depth of 4,068 feet and encountered 115 feet (35 meters) of hydrocarbon-bearing sandstone (1,240 meters). Barreleye-1 and Lukanani-1 are still operational.

“These discoveries and the updated resource estimate increase the confidence we have in our ambitious exploration strategy for the Stabroek Block and will help to inform our future development plans for the southeast 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 reliably supplying affordable energy to meet increasing demand around the world.”

ExxonMobil currently has four projects in the works off the coast of Guyana. Liza Phase 1 uses the Liza Destiny floating production storage and offloading (FPSO) vessel to produce around 130,000 barrels per day. Using the Liza Unity FPSO, Liza Phase 2 began production in February and is steadily ramping up to its full capacity of 220,000 barrels per day. Payara, the third project, is planned to produce 220,000 barrels per day; work on its production vessel, the Prosperity FPSO, is around five months ahead of schedule, with start-up scheduled before the end of 2023. When the ONE GUYANA FPSO comes online in 2025, the fourth project, Yellowtail, is expected to produce 250,000 barrels per day.

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

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