https://www.upstreamonline.com/exploration/guyana-goes-on-giving-exxonmobil-makes-two-more-discoveries-in-stabroek-block/2-1-1139784
7 replies (most recent on top)
To turn around our underperforming upstream portfolio, we would need another four to five Guyanas. Brazil is definitely NOT going to be one. Where are these new low production cost discoveries going to come from? Now that we have gutted Exploration, are we going to continue to get “off the shelf” cr_ap opportunities that nobody else wants?
What is our strategy for replacing the useless assets in our current portfolio? Oh, wait, it’s getting rid of experienced employees and replacing them with cheap ones. The future is bright! Let the good times roll!
Guyana--AKA ExxonMobil's "Golden Goose"
If Guyana is the “hot” asset why some Guyana folks were laid off last year?
Everyone working Brazil seems to have transferred to Guyana. I want to see that post: VP lost billions, only has a lapel flag pin to show for.
OP, if you want to be a reporter, try posting on kprc’s site or cnn.com, but this is not the place for this!
Who keeps posting these entire news articles??????? I’m sure many of us read the news, so your contributions are necessary, garbage, and just contributing to the misery around XOM. I’m sure this is one of HR‘s ploys but please stop.
US supermajor ExxonMobil has announced two significant discoveries in the Stabroek block offshore Guyana, potentially adding to its previous recoverable resource estimate of 10 billion barrels of oil equivalent in the prolific play.
The results from the campaigns at the Fangtooth-1 and Lau Lau-1 exploration wells bring to 23 the number of finds made by ExxonMobil and project partners Hess and CNOOC International at Stabroek.
The Fangtooth-1 prospect, previously labelled by ExxonMobil as a “step out” well to test the prospectivity of deeper horizons, encountered about 50 metres of high quality oil-bearing sandstone reservoirs.
The well was drilled by the Stena Drilling drillship Stena DrillMax in 1838 metres of water, some 18 kilometres north-west of the giant Liza field.
As for Lau Lau-1, the programme found approximately 96 metres of high quality hydrocarbons-bearing sandstone reservoirs.
ExxonMobil used the Noble Corporation drillship Noble Don Taylor to spud Lau Lau-1 in 1461 metres of water, about 68 kilometres south-east of Liza.
“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,” said ExxonMobil senior vice president of exploration and new ventures Mike Cousins.
He explained Fangtooth successfully tested deeper prospectivity, while Lau Lau added to the large inventory of development opportunities in the south-east portion of Stabroek.
“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,” Cousins said.
ExxonMobil also said the Liza Unity FPSO, which arrived in Guyanese waters in October 2021, is undergoing hook-up and commissioning, and remains on track to produce first oil from Liza in the first quarter.
Work on the Prosperity FPSO for a third Stabroek development is progressing in Singapore for planned production start-up in the Payara field in 2024.
The development plan for the fourth project, set to produce from the Yellowtail cluster, is waiting government approval and regulatory review, although ExxonMobil has already awarded Netherlands-based SBM Offshore a contract to supply the FPSO.
Able to produce 250,000 bpd and 450 million cubic feet per day of natural gas, this fourth floater will be the biggest yet on the block.
ExxonMobil operates Stabroek with a 45% stake. Hess holds a 30% interest and CNOOC International has the remaining 25%.(Copyright)