US major ExxonMobil said yesterday that it had found more oil in the Payara reservoir offshore Guyana.
The firm said the Payara-2 well increased the total Payara discovery to about 500 million oil-equivalent barrels.
The well was drilled by ExxonMobil affiliate Esso Exploration and Production Guyana.
The well is 12 miles north-west of the recently funded Liza phase 1 project on the Stabroek Block, which is about 130miles offshore Guyana.
Steve Greenlee, president of ExxonMobil Exploration Company, said: “Payara-2 confirms the second giant field discovered in Guyana.
“Payara, Liza and the adjacent satellite discoveries at Snoek and Liza Deep will provide the foundation for world class oil developments and deliver substantial benefits to Guyana.
“We are committed to continue to evaluate the full potential of the Stabroek Block.”
Esso Exploration and Production Guyana is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration holds 30% interest and CNOOC Nexen Petroleum Guyana holds 25%.