Consortium led by ExxonMobil confirms recoverable oil reserves of 1,3 million barrels in offshore field

The potential of the new offshore field is one of the great attractions for the consortium led by the company ExxonMobil. Projections show more than 1,3 million barrels of recoverable oil reserves that could be added to the basin's current 10 million.

For this Friday (13/01), the consortium led by ExxonMobil and formed by the companies Hess Corporation and the Chinese CNOOC, has great predictions for its expansion project recoverable oil reserves in the Guyana region. There was confirmation of more than 1,3 million barrels in a new offshore field in the area, which could add an even more significant number to the 10 million barrels already existing in the Guiana-Suriname basin.

New offshore field in Guyana has 1,3 million barrels of recoverable oil reserves

The consortium's offshore project now reaches new numbers, with confirmation of the existence of 1,3 million barrels of recoverable oil reserves in a new offshore field off the country's coast.

Thus, the new confirmation can guarantee that the project will add another 1,3 billion barrels of recoverable oil reserves to the Guiana-Suriname basin, which already has 10 billion barrels.

The project by the consortium led by ExxonMobil, entitled Uaru-Mako, may go into operation within a period of up to 3 years, adding 63 new wells to the set of 30 that have already been drilled in the area.

With two fields in production and two more approved, the consortium is the first among many multinationals seeking to explore the immense basin.

He can still transform these two small countries into big ones. players of the fossil fuel landscape across the global market.

The discovery of an oil reserve of 1,3 million barrels in the new offshore field brought even more eyes to the nations' potential for the future of the oil and natural gas segment.

Specifications for the new offshore oil field were handed over to the media for public review last Tuesday by the Guyana Environmental Protection Agency, confirming the impressive number that can be added to the current project.

ExxonMobil and consortium companies prepare future steps for project after major discovery in Guyana's new offshore oil field 

The current production of the first two fields is almost 400.000 barrels per day, a very expressive number for the global fuel market.

Bearing in mind the environmental risks in the area, the Guyana Environmental Protection Agency required the ExxonMobil-led consortium to take out insurance to cover the costs of any possible oil spill in these fields.

Now, the company and the other companies in the partnership are preparing for the next steps of the project.

ExxonMobil is awaiting some approvals to take a fifth giant floating storage and offloading (FPSO) vessel, which will serve to supply tankers to international markets.

Despite the great potential, the project has not yet pleased everyone in the fuel segment in the country.

The announcement about a fifth major oil field comes amid calls from opposition parties and human rights groups for Guyana to get a better deal.

However, the Guyanese authorities stated that they will not make new demands regarding the agreement, but intend to demand better conditions from any new licensees, taking advantage of the current scenario.