Offshore Guyana continues to prove successful for ExxonMobil and its partners, with the Irving, Texas-based supermajor announcing another discovery in the Stabroek block.
The Longtail-3 well encountered 230 feet of net worth, including reservoirs containing newly identified hydrocarbons below the original discovery intervals, according to ExxonMobil.
“Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate in the Stabroek block, demonstrating further growth of this world-class resource and our high potential offshore development opportunities. of Guyana, ”said Senior Vice President Mike Cousins, who oversees the explorations.
Stabroek currently has a recoverable raw resource estimated at 9 billion boe. ExxonMobil added two rigs in the first quarter and now has six rigs operating off Guyana.
The Longtail-1 discovery at Stabroek was drilled in 2018, encountering 256 feet of oil-bearing sandstone reservoir. Drilling in the Mako-2 appraisal well confirmed the quality, thickness and extent of the reservoir, ExxonMobil said.
When incorporated into the discovery at Uaru-2, which was announced in April, the data supports a potential fifth floating production storage and offloading vessel (FPSO) in the area east of the complex. Liza, according to ExxonMobil.
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At least six FPSO units could be installed across the Stabroek by 2027, with a potential of up to 10, he noted. The block covers approximately 6.6 million acres. Oil developments off Guyana have an estimated Brent break-even point of $ 25-35 / bbl.
Esso Exploration and Production Guyana Ltd., a subsidiary of ExxonMobil, operates and owns a 45% interest in the block. Hess Guyana Exploration Ltd. holds a 30% stake, while the subsidiary of China National Offshore Oil Corp. Ltd. CNOOC Petroleum Guyana Ltd. holds 25%.
In the first quarter, more than 2,600 Guyanese suppliers and 600 local suppliers reportedly supported ExxonMobil’s activities in the country.