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ExxonMobil strikes oil again offshore of Guyana

Oil major ExxonMobil has made yet another discovery in the waters offshore of Guyana in South America, the 14th so far.

The find was made in the Stabroek block at the Tripletail-1 well, and it is the sixth find in the Turbot area to date.

The well was drilled to a depth of 2,003 meters of water by the Noble Tom Madden drillship, where it discovered approximately 33 meters of high-quality oil-bearing sandstone reservoir. The new well is a few miles northeast of the previous Longtail discovery. The Noble Tom Madden will now head for about six miles west of the well-known Liz field to drill the Uaru-1 well. In October, it will also be joined by another of Noble Corporation’s drillships, the Noble Don Taylor, which has been contracted by ExxonMobil for a year.

The new discovery signifies the importance of Guyana to the future upstream portfolio of ExxonMobil, which also engages in downstream activities like making the synthetic gas engine oil Mobil Pegasus 1. It’s believed that the company may ultimately produce as much as 750,000 barrels of oil per day (bpd) from the Stabroek block, with there being enough potential to deploy more than five floating production, storage and offloading (FPSO) vessels.

ExxonMobil subsidiary Esso Exploration and Production Guyana Limited is the designated operator for the Stabroek block, in which it has a 45% interest. The remaining interest is held by subsidiaries of CNOOC Limited (CEO) and Hess Corporation (HES), with 25% and 30% respectively.

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