ExxonMobil has made two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, adding to its extensive portfolio of development opportunities. The company has made more than 30 discoveries on the block since 2015.
The Sailfin-1 well encountered approximately 312 feet (95 metres) of hydrocarbon-bearing sandstone and was drilled in 4,616 feet (1,407 metres) of water. The Yarrow-1 well encountered approximately 75 feet (23 metres) of hydrocarbon-bearing sandstone and was drilled in 3,560 feet (1,085 metres) of water. Both wells were drilled by the Stena Carron drillship.
drillship.ExxonMobil’s first two sanctioned offshore Guyana projects, Liza Phase 1 and Liza Phase 2, are now producing above design capacity and achieved an average of nearly 360,000 barrels of oil per day in the third quarter. A third project, Payara, is expected to start by the end of 2023, and a fourth project, Yellowtail, is expected to start in 2025. The company is currently pursuing environmental authorisation for a fifth project, Uaru. By the end of the decade, ExxonMobil expects Guyana’s oil production capacity to be more than a million barrels a day.
Guyana’s Stabroek block is 6.6m acres (26,800 square kilometres). 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.
