Exxon, Hess Say Two Oil Discoveries Made in Stabroek Block Offshore Guyana
05 Janvier 2022 - 3:41PM
Dow Jones News
By Michael Dabaie
ExxonMobil and Hess Corp. said two oil discoveries were made at
Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore
Guyana.
These discoveries will add to the previously announced
recoverable resource estimate for the block of 10 billion
oil-equivalent barrels.
The Stabroek block is 6.6 million acres. ExxonMobil affiliate
Esso Exploration and Production Guyana Limited is operator and
holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest
and CNOOC Petroleum Guyana Limited holds 25% interest.
The Fangtooth-1 well encountered about 164 feet of oil-bearing
sandstone reservoirs and the Lau Lau-1 well encountered about 315
feet of hydrocarbon-bearing sandstone reservoirs.
"Positive results at Fangtooth, our first standalone deep
exploration prospect, confirm the deeper exploration potential of
the Stabroek Block. Both discoveries further underpin our queue of
future low cost development opportunities. We continue to see the
potential for at least six FPSOs on the Stabroek Block in 2027 with
a production capacity of more than 1 million gross barrels of oil
per day, and up to 10 FPSOs to develop the discovered resources on
the block," Hess Chief Executive John Hess said.
"Initial results from the Fangtooth and Lau Lau wells are a
positive sign for Guyana and continue to demonstrate the potential
for the country's growing oil and gas sector, ExxonMobil and our
co-venturers in the Stabroek block," said Mike Cousins, senior vice
president of exploration and new ventures at ExxonMobil.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 05, 2022 09:26 ET (14:26 GMT)
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