ExxonMobil announces 13th discovery offshore Guyana
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major development hub.
“Similar to the Liza area, successive discoveries in the Turbot area have continuously grown its shared value,” said Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures. “Our success here can be attributed to our industry-leading upstream capabilities, the strength of our partnerships and our ongoing commitment to growing Guyana’s offshore potential.”
Yellowtail-1 encountered approximately 292 feet (89 meters) of high-quality
Exploration and development activities continue at other locations on the Stabroek Block. The Stena Carron is currently completing a
ExxonMobil has previously said there is potential for at least five floating
Liza Phase 2 is expected to startup by mid-2022. A final investment decision is expected soon subject to government and regulatory approvals. Upon approval, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels per day. Sanctioning of a third development,
The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is
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