The Fangtooth-1 well encountered about 164 ft (50 m) of high-quality oil-bearing sandstone reservoirs. The drillship Stena DrillMAX drilled the well in 6,030 ft (1,838 m) of water. Fangtooth is about 11 mi (18 km) northwest of the Liza field.
The Lau Lau-1 well encountered about 315 ft (96 m) of high-quality hydrocarbon-bearing sandstone reservoirs. The drillship Noble Don Taylor drilled the well in 4,793 ft (1,461 m) of water. Lau Lau is approximately 42 mi (68 km) southeast of the Liza field.
These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 Bboe.
Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil, said: “The Fangtooth discovery is a successful result of our strategy to test deeper prospectivity, and the Lau Lau discovery adds to the large inventory of development opportunities in the southeast part of the Stabroek block. Both discoveries increase our understanding of the resource, our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to 10 development projects.”
In addition, the FPSO Liza Unity is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in 1Q 2022 and has a target of 220,000 b/d of oil at peak production.
The field development plan and environmental impact assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.
ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. is the operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Ltd. holds 25% interest.