ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru
27 Gennaio 2020 - 2:00PM
Business Wire
- Stabroek Block recoverable resources increased by 2 billion
oil-equivalent barrels
- Uaru well is 16th discovery, will be incremental to the new
resource estimate
- Fifth drillship expected in 2020
ExxonMobil has increased its estimated recoverable resource base
in Guyana to more than 8 billion oil equivalent barrels and made a
further oil discovery northeast of the producing Liza field at the
Uaru exploration well, the 16th discovery on the Stabroek
Block.
The new recoverable resource estimate includes 15 discoveries
offshore Guyana through year-end 2019. The Uaru discovery is the
first of 2020 and will be added to the resource estimate at a later
date.
“With recent high-quality finds at Tripletail and Mako
contributing to our recoverable resources, our investments will
continue to provide benefits for the people of Guyana,” said Mike
Cousins, senior vice president of exploration and new ventures at
ExxonMobil. “The Uaru discovery is another positive step as we
begin a new decade with the Co-operative Republic of Guyana and our
co-venturers.”
Uaru encountered approximately 94 feet (29 meters) of
high-quality oil-bearing sandstone reservoir. The well, drilled in
6,342 feet (1,933 meters) of water, is located approximately 10
miles (16 kilometers) northeast of the Liza field, which began
producing oil in December 2019.
Production from the Liza Phase 1 development is currently
ramping up and will produce up to 120,000 barrels of oil per day in
the coming months, utilizing the Liza Destiny floating production
storage and offloading vessel (FPSO).
The Liza Unity FPSO, which will be employed for the second phase
of Liza development and will have a production capacity of 220,000
barrels of oil per day, is under construction and expected to start
production by mid-2022.
Pending government approvals and project sanctioning of a third
development, production from the Payara field north of the Liza
discoveries could start as early as 2023, reaching an estimated
220,000 barrels of oil per day.
Four drillships in Guyana continue to explore and appraise new
resources as well as develop the resources within approved
projects. A fifth drillship is expected to be deployed later this
year.
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 percent interest in the
Stabroek Block. Hess Guyana Exploration Limited, holds 30 percent
interest and CNOOC Petroleum Guyana Limited, a wholly-owned
subsidiary of CNOOC Limited, holds 25 percent interest.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, 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. For more information, visit
www.exxonmobil.com or follow us on Twitter at
www.twitter.com/exxonmobil.
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, 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; 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. References to
“recoverable resource,” “oil-equivalent barrels,” and similar terms
in this release include quantities that are not yet classified as
proved reserves under SEC rules but that are expected to be
ultimately recoverable.
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