ExxonMobil, The Largest Oil Company In The U.S., Makes Three New Discoveries Containing Hydrocarbons And Increases The Resource Estimate For Stabroek To Nearly 11 Billion Barrels Of Oil

Written by Flavia Marinho

Published on 02/06/2022 at 15:38

Updated on 27/06/2022 at 16:58

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Continuous Success Validates ExxonMobil’s Ambitious Exploration Strategy, Increasing Estimate of Stabroek Block to Nearly 11 Billion Barrels of Oil

ExxonMobil, the U.S. oil giant, reported yesterday (04/26) in a relevant fact to the global market that it found, at 1,170 meters of water, in the Barreleye-1 well, sandstone containing hydrocarbons. Meanwhile, drilling in Patwa-1 encountered sandstone containing hydrocarbons at 6,315 feet (1,925 meters) of water. The Lukanani-1 well found 115 feet (35 meters) of sandstone containing hydrocarbons and was drilled to a water depth of 4,068 feet (1,240 meters). Operations are ongoing in Barreleye-1 and Lukanani-1.

The three discoveries are southeast of the Liza and Payara developments and bring the total to five discoveries made by ExxonMobil in Guyana in 2022.

“These discoveries and the updated resource estimate increase our confidence in our ambitious exploration strategy for the Stabroek Block and will help inform our future development plans for the southeastern part of the block,” said Liam Mallon, president of ExxonMobil Upstream Company. “ExxonMobil remains committed to delivering value at an accelerated pace to the people of Guyana, our partners, and shareholders, and providing reliable affordable energy to meet growing demand worldwide.”

ARTICLE CONTINUES BELOW

Oil Blocks in Guyana Explored by the Largest U.S. Oil Company Are Set to Produce Over 800,000 Barrels Per Day by 2025

Currently, ExxonMobil has four sanctioned projects in Guyana. Liza Phase 1 is producing approximately 130,000 barrels per day using the floating production storage and offloading vessel Liza Destiny (FPSO). Liza Phase 2, which began production in February, is steadily increasing its capacity to 220,000 barrels per day using the FPSO Liza Unity. The third project, Payara, is expected to produce 220,000 barrels per day; construction on its production vessel, the Prosperity FPSO, is proceeding approximately five months ahead of schedule, with startup likely before the end of 2023. The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the ONE GUYANA FPSO comes online in 2025.

The Stabroek Block in Guyana spans 6.6 million acres (26,800 square kilometers). ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited, is the operator and holds a 45% stake in the Block. Hess Guyana Exploration Ltd. holds a 30% stake, and CNOOC Petroleum Guyana Limited holds a 25% stake.

ExxonMobil, The Largest Oil Company In The U.S., Makes Three New Discoveries Containing Hydrocarbons And Increases The Resource Estimate For Stabroek To Nearly 11 Billion Barrels Of Oil

Continuous Success Validates ExxonMobil’s Ambitious Exploration Strategy, Increasing Estimate of Stabroek Block to Nearly 11 Billion Barrels of Oil

Oil Blocks in Guyana Explored by the Largest U.S. Oil Company Are Set to Produce Over 800,000 Barrels Per Day by 2025

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ExxonMobil, The Largest Oil Company In The U.S., Makes Three New Discoveries Containing Hydrocarbons And Increases The Resource Estimate For Stabroek To Nearly 11 Billion Barrels Of Oil

Continuous Success Validates ExxonMobil’s Ambitious Exploration Strategy, Increasing Estimate of Stabroek Block to Nearly 11 Billion Barrels of Oil

Oil Blocks in Guyana Explored by the Largest U.S. Oil Company Are Set to Produce Over 800,000 Barrels Per Day by 2025

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

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An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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