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Exxon, Partners Hit Another Oil Discovery Offshore Guyana

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   |    Monday,September 16,2019

ExxonMobil and its partners have made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area.

The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block.

Tripletail-1 encountered approximately 108 feet (33 meters) of a high-quality oil bearing sandstone reservoir. Tripletail-1, drilled in 6,572 feet (2,003 meters) of water, is located approximately 3 miles (5 kilometers) northeast of the Longtail discovery. After completion of operations at Tripletail, the Noble Tom Madden drillship will next drill the Uaru-1 well, located approximately 6 miles (10 kilometers) east of the Liza field.

Liza Phase 1 On Schedule

The Liza Phase 1 development remains on schedule to start up by early 2020 and will produce up to 120,000 barrels of oil per day utilizing the Liza Destiny floating production storage and offloading (FPSO), which arrived in Guyana on August 29, 2019.

ExxonMobil approved funding for the Liza Phase 2 development after it received government and regulatory approvals in May 2019. Expected to startup by mid-2022, the project plans to use the Liza Unity FPSO to produce up to 220,000 barrels of oil per day. Pending government approvals, a third development, Payara startup could be as early as 2023 and production would reach an estimated 220,000 barrels of oil per day.

Partners

The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.


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