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21 May 2015: ExxonMobil makes Oil Discovery offshore Guyana

21 May 2015

ExxonMobil has reported a significant oil discovery on the Stabroek Block, approximately 120 miles offshore Guyana.

The well encountered more than 295 feet (90 metres) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 metres) in 5,719 feet (1,743 metres) of water. Stabroek Block is 6.6 million acres (26,800 square kilometres).

“I am encouraged by the results of the first well on the Stabroek Block,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company. “Over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.”

The well was spud on 5 March 2015. The well data will be analysed in the coming months to better determine the full resource potential.

Esso Exploration and Production Guyana Ltd. holds 45 percent interest. Hess Guyana Exploration Limited holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.


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