ExxonMobil: new oil discovery offshore Guyana

(CercleFinance.com) - Exxon Mobil Corporation said on Friday that drilling from a well offshore Guyana showed positive results, making it the sixth oil discovery in the region.


The US giant started drilling the well on 5 November 2017, and encountered approximately 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir.

The well's discovery adds to previous discoveries, which are already estimated to total over 3.2 billion recoverable oil-equivalent barrels.

The exploration project is led by Exxon, which holds a 45% interest in the 26,800 square kilometers block, with Hess and CNOOC also having stakes.

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