ExxonMobil and its partners have made a new oil discovery in the Stabroek block offshore Guyana through the drilling of the Lancetfish-1 well.

The Lancetfish discovery is located nearly 6.4km south-east of the Fangtooth discovery.

Following drilling in a water depth of 5,843ft using the Noble Don Taylor drillship, the Lancetfish-1 well intersected almost 92ft of oil-bearing sandstone.

ExxonMobil Guyana president Alistair Routledge said: “Initial results from the Lancetfish-1 well are encouraging and demonstrate the Stabroek block’s continued exploration potential.

“We continue to increase our understanding of Guyana’s offshore resources with each new discovery.”

The Lancetfish marks the ExxonMobil-led consortium’s second discovery this year after the oil find at the Fangtooth SE-1 well in the same concession.

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By GlobalData

The Fangtooth SE-1 well, which is located nearly 13km south-east of the Fangtooth-1 well, encountered nearly 200ft of oil-bearing sandstone reservoirs.

Spread over an area of 26,800km², the Stabroek block consists of multiple hydrocarbon discoveries.

ExxonMobil, through its affiliate Esso Exploration and Production Guyana, holds an operatorship stake of 45% in the Stabroek block. Hess, through its subsidiary Hess Guyana Exploration, owns a 30% stake, while China’s CNOOC, via its subsidiary CNOOC Petroleum Guyana, holds a 25% stake.

Separately, ExxonMobil said that its Prosperity floating, production, storage and offloading (FPSO) vessel reached Guyanese waters earlier this month.

Scheduled to begin production later this year, the Prosperity FPSO will join the Liza Destiny and Liza Unity FPSOs, which reported combined production of 375,000 barrels a day in Q1 2023.