ExxonMobil makes 'significant' oil find in Guyana
ExxonMobil has made a "significant" oil discovery at the Whiptail prospect on Guyana's deepwater Stabroek block, the company said today.
The find adds to the previous recoverable resource estimate of approximately 9bn bl of oil equivalent (boe) from Stabroek. The company earlier reported 20 discoveries on Stabroek.
The Whiptail-1 well found 246ft (75m) of net pay in "high quality" oil-bearing sandstone reservoirs, ExxonMobil said. Drilling is also ongoing at the Whiptail-2 well, which has encountered another 167ft of net pay.
The company said it has restored output at the Liza Destiny floating production, storage and offloading vessel (FPSO) working the Liza-1 well on Stabroek to its 120,000 b/d nameplate capacity. Production has been affected intermittently by problems with gas compression.
ExxonMobil started producing 32.1°API Liza crude in December 2019, and has a 45pc stake in Stabroek. US independent Hess holds 30pc and Chinese state-owned CNOOC unit Nexen has 25pc.
The major is projecting output from four projects on Stabroek to reach over 800,000 b/d by 2025.
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