ExxonMobil this afternoon announced two new oil discoveries in the Stabroek block offshore Guyana.
In a statement, the company said the discoveries were made to the southeast of the Liza and Payara developments in the block. “The discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than 25,” it noted.
According to the statement, the Seabob-1 well encountered approximately 131 feet (40 meters) of high-quality hydrocarbon-bearing sandstone and was drilled in 4,660 feet (1,421 meters) of water by the Stena Carron drillship, while the Kiru-Kiru-1 well encountered approximately 98 feet (30 meters) of high-quality hydrocarbon-bearing sandstone and was drilled by the Stena DrillMAX in 5,760 feet (1,756 meters) of water. Drilling operations at Kiru-Kiru are ongoing, it added.
“ExxonMobil and its partners continue to accelerate exploration, development and production activities for the benefit of all stakeholders, including the people of Guyana,” Liam Mallon, president of ExxonMobil Upstream Company, was quoted as saying in wake of the new discoveries. “The resources we are investing in and discovering offshore Guyana will provide safe, secure energy for global markets for decades to come.”
The statement noted that the company’s 2022 investment plans include further exploration drilling and resource development in Guyana, where it is already increasing production at an accelerated, industry-leading pace. It further added that the two floating production storage and offloading (FPSO) vessels operating offshore Guyana — Liza Destiny and Liza Unity — have exceeded their initial combined production target of 340,000 barrels of oil per day.
Additionally, a third project, Payara, is expected to produce 220,000 barrels per day.
The company also reported that construction on its production vessel, the Prosperity FPSO, is approximately five months ahead of schedule, with start-up likely before year-end 2023.
The fourth project, Yellowtail, is expected to produce 250,000 barrels per day when the ONE GUYANA FPSO comes online in 2025, it added.
Guyana’s Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45% interest in the block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.