Exxon subsidiary makes another big find at well offshore Guyana

US oil supermajor Exxon Mobil said on Tuesday that one of its subsidiaries has made another big discovery offshore the South American country of Guyana.

Irving, Texas-based Exxon said the find was made in the Payara reservoir at its Payara-2 well. Combined with previous discoveries there, Exxon now estimates the reservoir to have a potential 500 million barrels of oil equivalent (boe).

If correct, it would increase the total potential in Guyana’s Stabroek Block to a possible 2.75 billion barrels.

Exxon subsidiary Esso Exploration and Production Guyana is the major partner (with 45%) and the operator of the Stabroek Block, along with Hess Guyana Exploration (30%) and CNOOC (25%).

The Payara well, approximately 130 miles off Guyana, was drilled to about 19,000 feet in around 7,000 feet of water.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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