ExxonMobil Increases Stabroek Resource Estimate to 5 Billion Barrels; Makes 10th Discovery
03 Décembre 2018 - 2:00PM
Business Wire
- More than 5 billion recoverable
oil-equivalent barrels discovered in less than four years
- Reinforces potential for at least five
floating storage, production and offloading vessels producing more
than 750,000 barrels of oil per day by 2025
- Pluma-1 well represents 10th
discovery
ExxonMobil said today it made its 10th discovery offshore Guyana
and increased its estimate of the discovered recoverable resource
for the Stabroek Block to more than 5 billion oil-equivalent
barrels.
The resource estimate, up from the previous estimate of more
than 4 billion oil-equivalent barrels, is a result of further
evaluation of previous discoveries and includes a new discovery at
the Pluma-1 well.
“The discovery of a resource base of more than 5 billion
oil-equivalent barrels in less than four years is a testament of
our technical expertise and rigorous evaluation and pursuit of
high-potential, high-risk opportunities in this frontier area,”
said Neil Chapman, ExxonMobil senior vice president. “We will
continue to apply what we’ve learned to identify additional
exploration prospects and potential future discoveries that will
deliver significant value to Guyanese people, our partners and
shareholders.”
The Pluma-1 well encountered approximately 121 feet (37 meters)
of high-quality hydrocarbon-bearing sandstone reservoir. Pluma-1
reached a depth of 16,447 feet (5,013 meters) in 3,340 feet (1,018
meters) of water. The Noble Tom Madden drillship began drilling on
Nov. 1. The well is located approximately 17 miles (27 kilometers)
south of the Turbot-1 well. The Noble Tom Madden will next drill
the Tilapia-1 prospect located 3.4 miles (5.5 kilometers) west of
the Longtail-1 well.
“Together with the government and people of Guyana, we are
continuing to grow the value of the Stabroek Block for Guyana, our
partners and ExxonMobil with successful exploration investments,”
said Steve Greenlee, president of ExxonMobil Exploration Company.
“Our ongoing work will evaluate development options in the
southeastern portion of the block, potentially combining Pluma with
prior Turbot and Longtail discoveries into a major new development
area.”
The Liza Phase 1 development is expected to begin producing up
to 120,000 barrels oil per day by early 2020, utilizing the Liza
Destiny floating storage, production and offloading vessel (FPSO).
As previously announced, Liza Phase 2 is expected to start up by
mid-2022. Pending government and regulatory approvals, Liza Phase 2
project sanction is expected in early 2019 and will use a second
FPSO designed to produce up to 220,000 barrels per day. Sanctioning
of a third development, Payara, is also expected in 2019 with start
up as early as 2023.
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 Nexen Petroleum Guyana Limited holds 25 percent
interest.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans and
schedules, resource recoveries and production rates could differ
materially due to changes in market conditions affecting the oil
and gas industry or long-term oil and gas price levels; political
or regulatory developments including the grant of necessary
approvals; reservoir performance; the outcome of future exploration
and development efforts; technical or operating factors; the
outcome of future commercial negotiations; and other factors cited
under the caption “Factors Affecting Future Results” on the
Investors page of our website at www.exxonmobil.com. References to
oil-equivalent barrels and similar terms include quantities that
are not yet classified as proved reserves under SEC rules but are
expected ultimately to be moved into the proved reserve category
and produced in the future.
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