Exxon Mobil Makes Fifth Oil Discovery off Guyana

Following completion of the Turbot-1 well where the discovery was made, the Stena Carron drillship will move to the Ranger prospect.


GEORGETOWN, Guyana, Thursday October 5, 2017 – Exxon Mobil Corporation today announced a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana.

This is its latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on August 14, and encountered a reservoir of 75 feet of high-quality, oil-bearing sandstone in the primary objective.

The well was safely drilled to 18,445 feet in 5,912 feet of water on September 29.

“The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company. “ExxonMobil, along with its partners, will continue to further evaluate opportunities on the Stabroek Block.”

The Turbot-1 well is located in the southeastern portion of the 26,800-square-kilometre Stabroek Block, about 30 miles to the southeast of the Liza phase one project.

Following completion of the Turbot-1 well, the Stena Carron drillship will move to the Ranger prospect. An additional well on the Turbot discovery is being planned for 2018.

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  • Michael Goddard

    I hope the Guyanese are in the process of developing a national oil fund along the lines of what Norway has done. Guyana is a poor country and oil revenues will be a boon to the economy. But without strong institutions and good governance the money will be squandered, mis-spent and ultimately stolen. The people of Guyana need to proceed carefully and thoughtfully as they tap into this source of wealth. It should be preserved for generations and used wisely. The goal is to end up much more like Norway in terms of standard of living and avoid being another Nigeria or Venezuela.