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ExxonMobil makes yet more discoveries offshore of Guyana

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In what has become a regular occurrence, the US-based energy major ExxonMobil has made two further discoveries in the Stabroek block off the coast of Guyana.

According to the company, the drillship Stena Carron drilled both the Yarrow-1 and Sailfin-1 wells. The former was drilled in 1,085 metres of water and met with about 23 metres in hydrocarbon-bearing sandstone, while the latter was drilled in 1,407 metres of water and met with 95 metres of hydrocarbon-bearing sandstone.

ExxonMobil Upstream Company’s president, Liam Mallon, said that the company’s success in exploring for, and developing, resources in Guyana’s waters was thanks to its people, its expertise and an emphasis on optimising all operational aspects, adding:

“We are committed to responsibly and safely developing this world-class resource to help meet global demand for secure, reliable and lower-emission energy. Our investments through the pandemic have allowed us to increase supply at this critical time, while creating value for the people of Guyana, our partners and shareholders.”

ExxonMobil, which also makes popular lubricants like the Mobil SHC gear oil, says it has accelerated its development and production in the Stabroek block at a faster than average rate for the industry. Its first two projects, Liza Phase 1 and 2, produced almost 360,000 barrels per day of crude oil on average in the third quarter, which is actually greater than their design capacity. As further projects come online this decade, ExxonMobil expects the oil production in Guyana to exceed a million barrels per day.

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