trending Market Intelligence /marketintelligence/en/news-insights/trending/OxxHKHVkqaGvzOl5Hb5bLA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Exxon makes another oil discovery offshore Guyana

European Energy Insights July 2020

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Exxon makes another oil discovery offshore Guyana

Exxon Mobil Corp. said Dec. 23 that it made an oil discovery offshore Guyana at the Mako-1 well located southeast of the Liza field.

The recent oil discovery adds to the estimated recoverable resource of over 6 billion oil-equivalent barrels on the Stabroek Block, according to a Dec. 23 news release. In its 15th discovery in the Stabroek Block, the company found about 164 feet of oil-bearing sandstone reservoir in the Mako-1 well, which has been drilled in 5,315 feet of water.

In addition, a consortium operated by an Exxon subsidiary started oil production from the Liza field ahead of schedule. The production from Liza field's first phase is expected to reach up to 120,000 barrels of oil per day.

Exxon also said production from the Payara field may begin as early as 2023, upon approval of the government and project sanctioning, according to the release. Production from the field is estimated at 220,000 barrels of oil per day.

Exxon affiliate Esso Exploration and Production Guyana Ltd. operates and holds a 45% interest in the Stabroek Block. Hess Corp. subsidiary Hess Guyana Exploration Ltd. holds a 30% interest, while China National Offshore Oil Corp. unit CNOOC Petroleum Guyana Ltd. holds the remaining 25% interest.