Exxon Mobil announces new oil discovery offshore Guyana

March 30, 2017

IRVING, Texas -- Exxon Mobil announced today positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara.

Exxon Mobil affiliate Esso Exploration and Production Guyana Ltd. commenced drilling of the Snoek well on Feb. 22, 2017 and encountered 82 ft of high-quality, oil-bearing sandstone reservoirs. The well was safely drilled to 16,978 ft in 5,128 ft of water on March 18. The Snoek well is located in the southern portion of the Stabroek Block, approximately 5 mi to the southeast of the 2015 Liza-1 discovery.

Stena Carron drillship

Following completion of the Snoek well, the Stena Carron drillship has moved back to the Liza area to drill the Liza-4 well.

“As we continue to evaluate the full potential of the broader Stabroek Block, we are also taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana,” said Steve Greenlee, president of Exxon Mobil Exploration Company.

The Stabroek Block is 6.6 million acres. Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.