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ExxonMobil discovers even more oil offshore Guyana

05/12/2018
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ExxonMobil has announced this week that it has made its 10th discovery offshore Guyana meaning that the total recoverable resources for the Stabroek Block could be more than 5 billion oil-equivalent barrels.

The resource estimate, up from the previous estimate of more than 4 billion oil-equivalent barrels, is a result of further evaluation of previous discoveries and includes a new discovery at the Pluma-1 well.
The Noble Tom Madden drillship which made the latest discovery offshore Guyana.
(The Noble Tom Madden drillship. Image via Noble).

The discovery was made by project partner Hess using the Noble Tom Madden drillship which spudded the Pluma-1 well on 1st November in 3,340ft (1,018m) of water. The growing resource base that is being discovered at this field means there could be potential for “at least five FPSOs producing more than 750,000b/d of oil by 2025” according to Hess CEO John Hess.

The Liza Phase 1 development, which also forms part of the Stabroek Block, is set to produce up to 120,000b/d by early 2020 through the FPSO Liza Destiny, with start-up of Liza Phase 2 to follow by mid-2022 (assuming sanction for the project is achieved early in 2019). Should Phase 2 receive sanction then a second FPSO will be designed to produce up to 220,000b/d. Sanctioning of a third development, Payara, is also expected in 2019 with start up as early as 2023.

Commenting on the latest discovery, Neil Chapman, ExxonMobil senior vice president said:

“The discovery of a resource base of more than 5 billion oil-equivalent barrels in less than four years is a testament of our technical expertise and rigorous evaluation and pursuit of high-potential, high-risk opportunities in this frontier area. We will continue to apply what we’ve learned to identify additional exploration prospects and potential future discoveries that will deliver significant value to Guyanese people, our partners and shareholders”.

Steve Greenlee, president of ExxonMobil Exploration Company echoed these sentiments saying:

“Together with the government and people of Guyana, we are continuing to grow the value of the Stabroek Block for Guyana, our partners and ExxonMobil with successful exploration investments. Our ongoing work will evaluate development options in the south eastern portion of the block, potentially combining Pluma with prior Turbot and Longtail discoveries into a major new development area”.

With these discoveries set to be developed over the coming years, and with as many as five FPSOs likely to be in operation, there will undoubtedly be plenty of opportunities for skilled and experienced engineers and technical professionals to secure work.

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Tags: Oil & Gas
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Am looking for Field process plant operator position.
Albert Ato Abban, 06 December 2018
Congrats on your achievements in emerging market , look forward to partnering with and representing your firm .
Che Williams , 08 December 2018
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ExxonMobil discovers even more oil offshore Guyana - Time to read 3 min
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