ExxonMobil makes 13th discovery offshore Guyana

ExxonMobil and its partners have made their 13th discovery on the Stabroek block offshore Guyana.

Offshore staff

IRVING, Texas– ExxonMobil and its partners have achieved their 13th discovery on the Stabroek block offshore Guyana.

Yellowtail-1 encountered about 292 ft (89 m) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,445 ft (5,622 m) in 6,046 ft (1,843 m) of water. The well is approximately 6 mi (10 km) northwest of the Tilapia discovery.

The discovery adds to the estimated recoverable resource of 5.5 Bboe on the Stabroek block. Yellowtail-1 is the fifth discovery in theTurbot area, which ExxonMobil expects to become a major development hub.

The drillshipNoble Tom Madden spudded the Yellowtail well on March 27. It will next drill the Hammerhead-2 well.

Exploration and development activities continue at other locations on the Stabroek block. The drillshipStena Carron is completing a well test at the Longtail-1 discovery and upon completion will next drill the Hammerhead-3 well. Later this year, the Stena Carron will drill a second well at the Ranger discovery. The drillship Noble Bob Douglas is completing development drilling for Liza Phase 1.

The company said it is also evaluating plans to add another exploration drillship, bringing the number offshore Guyana to four.

According to ExxonMobil, there is potential for at leastfive FPSO vessels on the Stabroek block producing more than 750,000 b/d of oil by 2025.

Startup of the Liza Phase 1 development is on track to begin by 1Q 2020 and will produce up to 120,000 b/d of oil through the FPSOLiza Destiny, which is expected to arrive in country in 3Q.

Pending government and regulatory approvals, the company said a final investment decision for Liza Phase 2 is expected soon. Upon approval, the project plans to use the FPSOLiza Unity to produce up to 220,000 b/d. Liza Phase 2 is expected to startup by mid-2022.

Sanctioning of a third development,Payara, is also expected in 2019, with startup projected for 2023.

The Stabroek block is 6.6 million acres (26,800 sq km). ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. is operator and holds 45% interest.Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Ltd., a wholly-owned subsidiary of CNOOC Ltd., holds 25%.

04/18/2019

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