ExxonMobil Makes Two More Discoveries Offshore Guyana
- Seabob and Kiru-Kiru wells in Stabroek block are sixth and
seventh discoveries in 2022
- Guyana investment strategy continues to yield positive results;
additional exploration wells planned later this year
- Production from two vessels currently operating offshore has
exceeded their initial combined target of 340,000 barrels per
ExxonMobil has made two new discoveries offshore Guyana to the
southeast of the Liza and Payara developments in the Stabroek
block. The discoveries at Seabob and Kiru-Kiru are the sixth and
seventh in Guyana this year, with the total number of discoveries
in Guyana at more than 25.
The Seabob-1 well encountered approximately 131 feet (40 meters)
of high-quality hydrocarbon-bearing sandstone and was drilled in
4,660 feet (1,421 meters) of water by the Stena Carron drill ship.
The Kiru-Kiru-1 well encountered approximately 98 feet (30 meters)
of high-quality hydrocarbon-bearing sandstone and was drilled by
the Stena DrillMAX in 5,760 feet (1,756 meters) of water. Drilling
operations at Kiru-Kiru are ongoing.
“ExxonMobil and its partners continue to accelerate exploration,
development and production activities for the benefit of all
stakeholders, including the people of Guyana,” said Liam Mallon,
president of ExxonMobil Upstream Company. “The resources we are
investing in and discovering offshore Guyana will provide safe,
secure energy for global markets for decades to come.”
The company’s 2022 investment plans include further exploration
drilling and resource development in Guyana, where it is already
increasing production at an accelerated, industry-leading pace. Two
floating production storage and offloading (FPSO) vessels operating
offshore Guyana — Liza Destiny and Liza Unity — have exceeded their
initial combined production target of 340,000 barrels of oil per
A third project, Payara, is expected to produce 220,000 barrels
per day. Construction on its production vessel, the Prosperity
FPSO, is approximately five months ahead of schedule with start-up
likely before year-end 2023. The fourth project, Yellowtail, is
expected to produce 250,000 barrels per day when the ONE GUYANA
FPSO comes online in 2025.
Guyana’s Stabroek block is 6.6 million acres (26,800 square
kilometers). ExxonMobil affiliate Esso Exploration and Production
Guyana Limited is the operator and holds 45% interest in the block.
Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC
Petroleum Guyana Limited holds 25% interest.
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Statements of future events or conditions in this release are
forward-looking statements. Actual future results, including
project plans, schedules, capacities, production rates, and
resource recoveries could differ materially due to: changes in
market conditions affecting the oil and gas industry or long-term
oil and gas price levels; political or regulatory developments
including obtaining necessary regulatory permits; reservoir
performance; the outcome of future exploration efforts; timely
completion of development and construction projects; technical or
operating factors; and other factors cited under the caption
“Factors Affecting Future Results” on the Investors page of our
website at exxonmobil.com and under Item 1A. Risk Factors in our
annual report on Form 10-K. References to “recoverable resources,”
“oil-equivalent barrels,” and other quantifies of oil and gas
include estimated quantities that are not yet classified as proved
reserves under SEC definitions but are expected to be ultimately
recoverable. The term “project” can refer to a variety of different
activities and does not necessarily have the same meaning as in any
government payment transparency reports.
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