Offshore staff
IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 Bboe and made its 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 later.
“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.”
ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. is the operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Ltd. holds 25% interest.
Uaru encountered about 94 ft (29 m) of high-quality oil-bearing sandstone reservoir. The drillship Noble Tom Madden drilled the Uaru exploration well in 6,342 ft (1,933 m) of water. Uaru is about 10 mi (16 km) northeast of the Liza field, which began producing oil on Dec. 20, 2019.
According to ExxonMobil, production from the Liza Phase 1 development is currently ramping up and will produce up to 120,000 b/d of oil in the coming months, using the FPSO Liza Destiny.
The FPSO Liza Unity, which will be used for the second phase of Liza development and will have a production capacity of 220,000 b/d, 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 b/d of oil.
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.
01/27/2020
