ExxonMobil confirms significant oil discovery off Guyana

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ExxonMobil’s Deepwater Champion rig.

 

TEXAS, United States, Thursday June 30, 2016 – International oil and gas giant Exxon Mobil Corporation says that drilling results from a second exploration well off Guyana, confirm a world-class discovery with a recoverable resource of between 800 million and 1.4 billion oil-equivalent barrels.

The well is one of two Liza wells located in the 6.6 million-acre Stabroek block, approximately 120 miles offshore Guyana. Data from the successful Liza-2 well test is being assessed.

“We are excited by the results of a production test of the Liza-2 well, which confirms the presence of high-quality oil from the same high-porosity sandstone reservoirs that we saw in the Liza-1 well completed in 2015,” said Steve Greenlee, president of Exxon Mobil Exploration Company.

“We, along with our co-venturers, look forward to continuing a strong partnership with the government of Guyana to further evaluate the commercial potential for this exciting prospect.”

Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30 per cent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 per cent interest.

The Liza-2 well was drilled by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd., approximately two miles from the Liza-1 well.

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