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ExxonMobil makes two finds offshore of Guyana

ExxonMobil has built on its previous success offshore of Guyana by making two new discoveries at its Tilapia-1 and Haimara-1 wells. The company has now made 12 discoveries on the Stabroek Block, which before the recent finds was estimated as having 5 billion oil-equivalent barrels of recoverable resources.

According to ExxonMobil, which also makes lubricants for Mobil UK distributors, there have now been four discoveries in the Turbot area, of which Tilipia-1 is the latest, some 5.5 kilometres west of the Longtail-1 well. Having been drilled to a depth of 5,726 metres in 1,783 metres of water, 93 metres of high-quality oil-bearing sandstone reservoir was encountered in the well.

Steve Greenlee of ExxonMobil Exploration Company said:

“We see a lot of development potential in the Turbot area and continue to prioritise exploration of high-potential prospects here. We expect this area to progress to a major development hub providing substantial value to Guyana, our partners and ExxonMobil.”

The Noble Tom Madden, the drillship that drilled the well, will next move about 10 kilometres west to drill the Yellowtail-1 well.

ExxonMobil claims the Stabroek Block has the potential to host five or more floating, production storage and offloading vessels (FPSOs). Development of Liza Phase 1 with the Liza Destiny FPSO is currently in progress and expected to produce up to 120,000 barrels per day (bpd) by early next year. Further developments are pending government and regulatory approval, but ExxonMobil ultimately expects to be producing 750,000 bpd from the Stabroek Block by 2025.

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