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ExxonMobil increases estimate for Guyana’s Stabroek block to 4 billion barrels

ExxonMobil increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels.

ExxonMobil increases estimate for Guyana’s Stabroek block to 4 billion barrels ExxonMobil increases estimate for Guyana’s Stabroek block to 4 billion barrels


Texas, July 23 - Neftegaz.RU. ExxonMobil said today it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a 3rd phase of development and consideration of 2 additional phases.

 

The increase follows completion of testing at the Liza-5 appraisal well, a discovery at Ranger, incorporation of the 8th discovery, Longtail, into the Turbot area evaluation and completion of the Pacora discovery evaluation. The previous recoverable resource estimate was 3.2 billion oil-equivalent barrels.

 

Continued success in Guyana and progress in other upstream growth projects in the U.S. Permian Basin, Mozambique, Papua New Guinea and Brazil are giving us additional confidence in achieving our long-term earnings growth plans that we outlined in March, said Neil Chapman, senior vice president of Exxon Mobil.

 

The collective discoveries on the Stabroek Block to date have established the potential for up to 5 FPSOs producing over 750,000 barrels per day by 2025. There is potential for additional production from significant undrilled targets and plans for rapid exploration and appraisal drilling, including at the Ranger discovery.

 

The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate, Esso Exploration and Production Guyana, is operator and holds 45 % interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 % interest and CNOOC Nexen Petroleum Guyana holds 25 % interest.

 

Source : Neftegaz.RU