The new discoveries made at the Sailfin-1 and Yarrow-1 wells bring the total number of discoveries at the Stabroek Block this year to nine.
The discoveries will add to the block’s previously anticipated gross discovered recoverable resource of approximately 11 billion barrels of oil equivalent.
Drilled in 3,560ft of water, the Yarrow-1 well identified nearly 75ft of ‘high-quality’ oil bearing sandstone reservoirs. The well is located approximately 14km south-east of the Barreleye-1 discovery.
Located nearly 24km south-east of the Turbot-1 discovery, the Sailfin-1 well encountered ‘high-quality’ hydrocarbon-bearing sandstone reservoirs of approximately 312ft.
Stena Drilling’s Stena Carron harsh environment, dual-activity, dynamically positioned drillship was used to drill the Sailfin-1 and Yarrow-1 wells.
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Since 2015, ExxonMobil has made more than 30 discoveries in the 26,800km² Stabroek block.
ExxonMobil Upstream Company president Liam Mallon said: “We are committed to responsibly and safely developing this world-class resource to help meet global demand for secure, reliable, and lower-emission energy.
“Our investments through the pandemic have allowed us to increase supply at this critical time, while creating value for the people of Guyana, our partners, and shareholders.”
By the end of 2030, ExxonMobil anticipates its oil production capacity to be more than one million barrels a day in Guyana.
Through its affiliate Esso Exploration and Production Guyana, ExxonMobil operates the Stabroek block with a 45% interest.
Hess Corporation CEO John Hess said: “These discoveries will add to the discovered recoverable resource estimate for the block of approximately 11 billion barrels of oil equivalent, and we expect to be producing more than one million gross barrels of oil per day in 2027.”