ExxonMobil introduced that it made its eighth oil discovery offshore Guyana on the Longtail-1 properly, creating the potential for extra useful resource growth within the southeast space of the Stabroek Block.

ExxonMobil encountered roughly 256 ft (78 m) of high-quality, oil-bearing sandstone reservoir. The properly was safely drilled to 18,057 ft (5,504 m) depth in 6,365 ft (1,940 m) of water. The Stena Carron drillship commenced drilling on May 25, 2018.

“The Longtail discovery is in shut proximity to the Turbot discovery southeast of the Liza area,” mentioned Steve Greenlee, president of ExxonMobil Exploration Company. “Longtail drilling outcomes are below analysis. However, the mixed estimated recoverable assets of Turbot and Longtail will exceed 500 MMbbl of oil equal, and can contribute to the analysis of growth choices on this japanese portion of the block.”

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ExxonMobil is at the moment planning so as to add a second exploration vessel offshore Guyana along with the Stena Carron drillship, bringing its whole variety of drillships on the Stabroek Block to 3. The new vessel will function in parallel to the Stena Carron to discover the block’s quite a few high-value prospects.

The Noble Bob Douglas is finishing preliminary phases of growth drilling for Liza Phase 1, for which ExxonMobil introduced a funding resolution in 2017. Phase 1 will encompass 17 wells related to a floating manufacturing, storage and offloading (FPSO) vessel designed to provide as much as 120,000 bopd. First oil is predicted in early 2020. Phase 2 ideas are much like Phase 1 and contain a second FPSO with manufacturing capability of 220,000 bpd. A 3rd growth, Payara, is deliberate to observe Liza Phase 2.

Guyanese companies, contractors and workers proceed to play an essential function in ExxonMobil’s operations within the nation. ExxonMobil and challenge companions spent $24 million with greater than 300 native suppliers in 2017 and opened the Centre for Local Business Development within the capital metropolis of Georgetown to advertise the institution and progress of small- and medium-sized native companies. ExxonMobil’s priorities in Guyana are centered on enabling native workforce and provider growth and collaborating with authorities to help the expansion and success of its financial system, each within the power and non-energy sectors.

The Stabroek Block is 6.6 million acres (26,800 km2). Esso Exploration and Production Guyana Limited is operator and holds 45% curiosity within the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% curiosity and CNOOC Nexen Petroleum Guyana Limited holds 25% curiosity.

Source: www.worldoil.com

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