ExxonMobil Makes Two Discoveries Offshore Guyana
05 Gennaio 2022 - 02:30PM
Business Wire
- Fangtooth and Lau Lau discoveries will add to previous
recoverable resource estimate of 10 billion oil-equivalent
barrels
- Positive result supports strategy to test deeper exploration
targets within Stabroek block
- More than 3,200 Guyanese now support ongoing exploration and
production activities
ExxonMobil today said it made two oil discoveries at Fangtooth-1
and Lau Lau-1 in the Stabroek block offshore Guyana.
The Fangtooth-1 well encountered approximately 164 feet (50
meters) of high-quality oil-bearing sandstone reservoirs. The well
was drilled in 6,030 feet (1,838 meters) of water and is located
approximately 11 miles (18 kilometers) northwest of the Liza field.
The Lau Lau-1 well encountered approximately 315 feet (96 meters)
of high-quality hydrocarbon-bearing sandstone reservoirs. The well
was drilled in 4,793 feet (1,461 meters) of water and is located
approximately 42 miles (68 kilometers) southeast of the Liza
field.
These discoveries will add to the previously announced
recoverable resource estimate for the block, of 10 billion
oil-equivalent barrels.
“Initial results from the Fangtooth and Lau Lau wells are a
positive sign for Guyana and continue to demonstrate the potential
for the country’s growing oil and gas sector, ExxonMobil and our
co-venturers in the Stabroek block,” said Mike Cousins, senior vice
president of exploration and new ventures at ExxonMobil.
“The Fangtooth discovery is a successful result of our strategy
to test deeper prospectivity, and the Lau Lau discovery adds to the
large inventory of development opportunities in the southeast part
of the Stabroek block. Both discoveries increase our understanding
of the resource, our continued confidence in the block’s
exploration potential, and our view that the many discoveries to
date could result in up to 10 development projects,” added
Cousins.
Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was
drilled by the Noble Don Taylor, which are two of six drillships
supporting exploration and development drilling across three blocks
operated by ExxonMobil offshore Guyana.
Separately, progress continues on infrastructure for future
field development. The Liza Unity floating production storage and
offloading (FPSO) vessel is undergoing hookup and commissioning
after arriving in Guyanese waters in October 2021. The Unity is on
track to start production in the first quarter of 2022 and has a
target of 220,000 barrels of oil per day at peak production.
The hull for the Prosperity FPSO vessel, the third project on
the Stabroek block at the Payara field is complete and topside
construction activities are ongoing in Singapore for planned
production start-up in 2024. The Field Development Plan and
Environmental Impact Assessment for the fourth potential project,
Yellowtail, have been submitted for government and regulatory
review.
These new projects continue to drive investment in Guyana’s
growing economy. More than 3,200 Guyanese are now employed in
supporting project activities, and ExxonMobil and its key
contractors have spent more than $540 million with more than 800
local companies since 2015.
The Stabroek block is 6.6 million acres (26,800 square
kilometers). ExxonMobil affiliate Esso Exploration and Production
Guyana Limited is operator and holds 45% interest. Hess Guyana
Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana
Limited holds 25% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. To learn more, visit exxonmobil.com and
the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are
forward-looking statements. Actual future results, including
project plans, schedules, capacities, production rates, timing, and
resource recoveries could differ materially due to: changes in
market conditions affecting the oil and gas industry or long-term
oil and gas price levels; political or regulatory developments
including obtaining necessary regulatory permits; restrictions in
trade, travel or broader government responses to current or future
waves of COVID-19; reservoir performance; the outcome of future
exploration and development efforts; technical or operating
factors; the outcome of commercial negotiations; unexpected
technological breakthroughs or challenges; and other factors cited
under the caption “Factors Affecting Future Results” on the
Investors page of our website at exxonmobil.com and under Item 1A.
Risk Factors in our annual report on Form 10-K. References to
“recoverable resource” include quantities of oil and gas that are
not yet classified as proved reserves under SEC rules but that are
expected to be ultimately recoverable.
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