trending Market Intelligence /marketintelligence/en/news-insights/trending/EuPTIiZC_cf5vQy7RjT9cA2 content esgSubNav
In This List

Exxon-led consortium finds oil in Guyana's Stabroek block

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Exxon-led consortium finds oil in Guyana's Stabroek block

A consortium led by Exxon Mobil Corp. found oil at the Tripletail-1 well in Guyana's offshore Stabroek block, according to separate Sept. 16 news releases from the company and its partner Hess Corp. The latest discovery adds to the Stabroek block's total of 13 discoveries since May 2015.

"The discovery adds to the previously announced gross discovered recoverable resource estimate of more than 6 billion barrels of oil equivalent on the Stabroek Block, with multibillion barrels of future exploration potential remaining," Hess CEO John Hess said in the statement.

The Tripletail-1 was drilled in 6,572 feet of water by the Noble Tom Madden drillship and encountered around 108 feet of high-quality oil-bearing sandstone reservoir. It is among three and four exploration wells scheduled to be drilled from July 31 until year-end.

The well is located around 3 miles northeast of the Longtail discovery.

The Uaru-1 well will also be drilled in the Stabroek block following the completion of the Tripletail-1 operations. It is located around 6 miles east of the Liza field, another discovery in the block.

Other exploration and development activities in the Stabroek block are moving ahead. The Stena Carron drillship is drilling the Ranger-2 well and upon completion will conduct a test at the Yellowtail-1 well. The Noble Bob Douglas drillship is also completing development drilling operations for the Liza phase 1 project. Exxon will add the Noble Don Taylor, which will be the fourth drillship, in October to optimize drilling plans in the basin.

The Liza phase 1 development is on track to start-up by early 2020 and use the Liza Destiny floating production storage and offloading that arrived in Guyana on Aug. 29. It will produce up to 120,000 barrels of oil per day.

The Liza phase 2 development is also slated to start-up by mid-2022 and produce up to 220,000 bbl/d. It will use the Liza Unity FPSO.

Payara, which is Exxon and its partners' third development, could also start production as early as 2023 and would reach an estimated 220,000 bbl/d. The development is still pending government approvals.

Based on earlier plans, the Stabroek block was targeted to have at least five FPSO vessels that produce more than 750,000 bbl/d by 2025, Hess said.

Exxon affiliate Esso Exploration and Production Guyana Ltd. serves as project operator and holds a 45% stake in the block, while Hess Guyana Exploration Ltd owns a 30% interest. China National Offshore Oil Corp. subsidiary CNOOC Petroleum Guyana Ltd. also has a 25% stake.