ExxonMobil has made two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana.
ExxonMobil has made more than 30 discoveries on the block since 2015, and it has ramped up offshore development and production at a pace that far exceeds the industry average.
ExxonMobil Upstream Company president Liam Mallon said, “Our unrivalled exploration success and accelerated pace of development in Guyana are a testament to our people, decades of experience, technology capabilities and steadfast focus on optimising all aspects of operations.
“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.”
The Sailfin-1 well encountered approximately 95 metres of hydrocarbon-bearing sandstone and was drilled in 1,407 metres of water. The Yarrow-1 well encountered
approximately 23 metres of hydrocarbon-bearing sandstone and was drilled in 1,085 metres of water. Both wells were drilled by the Stena Carron drillship.
ExxonMobil’s first two sanctioned offshore Guyana projects, Liza Phase 1 and Liza Phase 2, are now producing above design capacity and achieved an average of nearly 360,000 barrels of oil per day in the third quarter.
A third project, Payara, is expected to start-up by the end of 2023, and a fourth project, Yellowtail, is expected to start-up in 2025. ExxonMobil is currently pursuing environmental authorisation for a fifth project, Uaru. By the end of the decade, ExxonMobil expects Guyana’s oil production capacity to be more than one million barrels a day.
Guyana’s Stabroek block is 26,800 square kilometres.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds 45 per cent interest in the block. Hess Guyana Exploration Ltd. holds 30 per cent interest, and CNOOC Petroleum Guyana Limited holds 25 per cent interest.
