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July 27, 2022

ExxonMobil makes two oil discoveries in Stabroek block offshore Guyana

The discoveries have been made in the south-east of the Liza and Payara developments.

ExxonMobil and its partners have announced two new oil discoveries in the Seabob-1 and Kiru-Kiru-1 wells, located in the Stabroek block, offshore Guyana.

The new discoveries in the southeast of the Liza and Payara developments will add to the previous gross discovered recoverable resources at the Stabroek block, which are estimated to be approximately 11 billion barrels of oil equivalent.

Following drilling in 4,660ft of water using the Stena Carron drillship, the Seabob-1 well identified nearly 131ft of ‘high-quality’ hydrocarbon-bearing sandstone.

The partners also encountered approximately 98ft of high-quality hydrocarbon-bearing sandstone at the Kiru-Kiru-1 well during drilling using the Stena DrillMAX.

Drilling operations at the Kiru-Kiru-1 well in 5,760ft of water are currently underway.

Exxon said that the two discoveries mark the sixth and seventh in Guyana this year. This brings the total number of discoveries in the South American country to over 25.

ExxonMobil Upstream Company president Liam Mallon said: “ExxonMobil and its partners continue to accelerate exploration, development, and production activities for the benefit of all stakeholders, including the people of Guyana.

“The resources we are investing in and discovering offshore Guyana will provide safe, secure energy for global markets for decades to come.”

The US major said the two floating production storage and offloading (FPSO) vessels offshore Guyana have surpassed their initial combined production target of 340,000 barrels of oil per day.

Through its affiliate Esso Exploration and Production Guyana, ExxonMobil operates the Stabroek block with a 45% stake.

Other partners include Hess’s unit Hess Guyana Exploration (30%) and CNOOC’s wholly owned subsidiary CNOOC Petroleum Guyana (25%).

By 2027, the partners plan to commission at least six FPSO vessels, with a production capacity of more than one million gross barrels of oil per day.

Last month, ExxonMobil’s Canadian affiliates announced that they had agreed to sell the Montney and Duvernay shale oil and gas assets in Canada.

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