Two more discoveries have been made in the massive Stabroek Block offshore Guyana, adding to ExxonMobil’s extensive portfolio of opportunities.

With the discoveries at the Sailfin-1 and Yarrow-1 wells, more than 30 discoveries have been made in the block since 2015. Offshore development and production has ramped up “at a pace that far exceeds the industry average,” the supermajor noted.

“Our unrivaled exploration success and accelerated pace of development in Guyana are a testament to our people, decades of experience, technology capabilities and steadfast focus on optimizing all aspects of operations,” said ExxonMobil Upstream Co. President Liam Mallon. “We are committed to responsibly and safely developing this world-class resource to help meet global demand for secure, reliable and lower-emission energy. 

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“Our investments through the pandemic have allowed us to increase supply at this critical time, while creating value for the people of Guyana, our partners and shareholders.”

The Sailfin-1 well hit 312 feet of hydrocarbon-bearing sandstone and was drilled in 4,616 feet of water. Yarrow-1, drilled in 3,560 feet of water, encountered 75 feet of hydrocarbon-bearing sandstone. The wells were drilled by the Stena Carron drillship.

The first two sanctioned offshore projects, Liza Phase 1 and Liza Phase 2, “are now producing above design capacity and achieved an average of nearly 360,000 b/d of oil in the third quarter,” ExxonMobil noted.

“A third project, Payara, is expected to start up by the end of 2023, and a fourth project, Yellowtail, is expected to start up in 2025.”

ExxonMobil now is pursuing environmental authorization for a fifth project, Uaru. By the end of the decade, ExxonMobil expects Guyana’s oil production capacity to be more than 1 million b/d.

Stabroek, spread across 6.6 million acres, is operated by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. and holds a 45% stake. Partners are Hess Guyana Exploration Ltd. with 30% interest and CNOOC Petroleum Guyana Ltd. with a 25% stake.