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ExxonMobil finds oil offshore of Guyana

ExxonMobil, the global oil company responsible for the manufacture of Mobilux EP 2 and Mobil Gargoyle Arctic 300, recently announced that its Payara- well off the shore of Guyana has yielded positive results.

Payara is the oil and gas giant’s second oil finding at the Stabroek Block. It was also drilled in a brand-new reservoir.

Speaking to the New York CaribNews, ExxonMobil Exploration Company president, Steve Greenlee said:

“This important discovery further establishes the area as a significant exploration province. We look forward to working with the Government and our co-venturers to continue evaluating broader exploration potential on the block and the greater Liza area.”

It was an ExxonMobil affiliate company Esso Exploration and production Guyana Ltd, that drilled the well, upon which they came face to face with in excess of 95 ft of excellent quality sandstone reservoirs, which were found to bear oil. This was then carefully drilled to a depth of 18,080 ft in approximately 6,660 ft of water.

As well as the new Payara discovery, the company also carried out appraisal drilling, which identified another deeper, high quality oil reservoir just below the Liza-3 field, also in the Guyana area. This reservoir is thought to contain approximately 100-150 million barrels-worth of oil, and is also being appraised for development.

Both finds, according to Mr Greenlee, are excellent examples of Exxon’s technological capabilities in very deep water areas, and will bring much benefit to the Guyana population as well as ExxonMobil’s many shareholders.

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