THERE has another oil discovery by ExxonMobil in Guyana.
The company made the announcement on Tuesday.
The discovery was made at Whiptail in the Stabroek Block offshore Guyana.
The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development.
The Whiptail discovery was announced in January 2020 and approximately three miles west of the Yellowtail field.
Senior vice president of exploration and new ventures at ExxonMobil Mike Cousin said, “This discovery increases our confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for a future development as we continue to evaluate the best sequence of development opportunities within the block.”
The government of Guyana has welcomed the find.
Guyana’s Minister of Natural Resources, Vickram Bharrat said, “The Government of Guyana welcomes these new discoveries offshore Guyana and reinforces its commitment to the sustainable exploration and development of Guyana’s Oil and Gas Resources. As with discoveries prior, the Government of Guyana foresees this new development increasing the potential for additional floating production storage and offloading vessels (FPSO).”
More than 2,600 Guyanese are now supporting project activities on and offshore, which reflects an increase of more than 20% since the end of 2019. ExxonMobil and its key contractors have spent approximately US$388 million with more than 800 local companies since 2015, OilNow reported.
