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ExxonMobil announces two new discoveries offshore Guyana

ExxonMobil has made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek block to 12. The discoveries build on the previously announced estimated recoverable resource of more than 5bn boe on the block.

Tilapia-1 is the fourth find in the Turbot area that includes the Turbot, Longtail and Pluma discoveries. ‘We see a lot of development potential in the Turbot area and continue to prioritise exploration of high-potential prospects here,’ says Steve Greenlee, President of ExxonMobil Exploration. ‘We expect this area to progress to a major development hub, providing substantial value to Guyana, our partners and ExxonMobil.’

The Haimara-1 discovery is located approximately 31 km east of the Pluma-1 discovery and is a potential new area for development.

There is potential for at least five floating, production storage and offloading vessels (FPSO) on the Stabroek block, producing more than 750,000 b/d of oil by 2025, according to ExxonMobil. The Liza Phase 1 development is progressing on schedule and is expected to begin producing up to 120,000 b/d in early 2020, utilising the
Liza Destiny FPSO.

Liza Phase 2 is expected to start up by mid-2022. Pending government and regulatory approvals, sanctioning is expected in 1Q2019 for the project, which will use a second FPSO designed to produce up to 220,000 b/d. Sanctioning of a third development, Payara, is also expected in 2019, and start-up is expected as early as 2023.

ExxonMobil is operator and holds a 45% interest in the Stabroek block, partnered by Hess (30%) and CNOOC (25%).

News Item details


Journal title: Petroleum Review

Countries: Guyana -

Subjects: Oil and gas, Exploration and production, FPSO

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