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11 billion barrels: ExxonMobil boosts Guyana numbers with trio of discoveries

© Supplied by SBM Offshoreexxonmobil guyana
Picture shows; The Liza Unity FPSO. Singapore. Supplied by SBM Offshore Date; 09/09/2021

ExxonMobil has made a trio of new discoveries offshore Guyana, boosting recoverable resources from the prolific Stabroek Block to nearly 11 billion barrels of oil equivalent.

Liam Mallon, president of ExxonMobil Upstream Company, said: “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.”

The three new discoveries  – Barreleye-1, Patwa-1 and Lukanani-1 – bring the total number of finds made by ExxonMobil in Guyana this year to five.

Barreleye-1 well encountered approximately 230 feet (70 meters) of hydrocarbon-bearing sandstone and was drilled in 3,840 feet (1,170 meters) of water.

Drilling at Patwa-1 encountered 108 feet (33 meters) of hydrocarbon-bearing sandstone and was conducted in 6,315 feet (1,925 meters) of water.

Meanwhile, the Lukanani-1 well encountered 115 feet (35 meters) of hydrocarbon-bearing sandstone and was drilled in a water depth of 4,068 feet (1,240 meters). Operations are ongoing at Barreleye-1 and Lukanani-1.

ExxonMobil currently has four sanctioned projects off Guyana, including Liza Phase 1, which is producing 130,00 barrels per day.

Liza Phase 2 started production in February, ramping up to 220,000 barrels per day, and construction for the production vessel for the third project, Payara, is underway with start-up likely before year-end 2023.

Project number four, Yellowtail, is expected to produce 250,000 barrels per day when it comes online in 2025.

The Stabroek Block off Guyana covers 6.6 million acres, operated by ExxonMobil affiliate Esso Exploration and Production Guyana Limited with a 45% stake.

Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.

Mr Mallon added: “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.”

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