ExxonMobil makes “significant” oil, natural gas discovery in prolific Stabroek block offshore Guyana

October 27, 2023

(WO) – On Oct. 26, Reuters reported that ExxonMobil, along with partners Hess Corp.  and CNOOC, made a “significant discovery” in the Stabroek block offshore Guyana. This discovery from the Lancetfish-2 well is the fourth made in 2023 in the country, bringing the total amount of recoverable oil and natural gas resources to 11 billion barrels (Bbbl).

ExxonMobil's Liza Unity FPSO

Reuters reported that the discovery, made in Exxon’s Liza production license region, has roughly 20 m of oil-and-gas-bearing reservoir and about 81 m of oil-and-gas-bearing sandstone.

While representatives from ExxonMobil declined to comment, Guyana’s Ministry of Natural Resources said that the well will go through an appraisal process.

The prolific Stabroek block offshore Guyana began oil production in 2019 and is expected to produce as much as 1.2 MMboed by 2027, Reuters said.

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