ExxonMobil makes Uaru-2 discovery off Guyana, boosting estimates beyond 9 billion barrels

SourceEnergy Voice
SectorOil & Gas
CountryGulf

ExxonMobil has announced a discovery at the Uaru-2 well off Guyana, taking resources in the region beyond the already massive estimate of nine billion barrels.

The discovery, in the prolific Stabroek block, means there’s now potential for as many as 10 FPSO vessels to be operating off Guyana, ExxonMobil said.

Drilling at Uaru-2 encountered 120feet of high quality oil-bearing reservoirs  and lies nearly 7miles south of Uaru-1 drilled last year, which was its 16th discovery in the country at the time.

Mike Cousins, senior vice president of exploration, said: “The Uaru-2 discovery enhances our work to optimally sequence development opportunities in the Stabroek Block.

“Progressing our industry-leading investments and well-executed exploration plans are vital in order to continue to develop Guyana’s offshore resources that unlock additional value for the people of Guyana and all stakeholders.”

The firm said it secured the Noble Sam Croft last month as the sixth drillship for exploration and evaluation activities in the region.

ExxonMobil anticipates “at least six” FPSOs going online...read more...