ExxonMobil: two oil discoveries in Guyana

(CercleFinance.com) - ExxonMobil has announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek Block, offshore Guyana, which will add to the previous recoverable resource estimate of 10 billion barrels of oil equivalent for the block.


It said that these discoveries enhance its understanding of the block, along with its continued confidence in its exploration potential and view that the numerous discoveries to date could result in up to 10 development projects.

For the record, the Stabroek block covers 26,800 km2. Esso Exploration and Production Guyana Limited, a subsidiary of ExxonMobil, is the operator, with a 45% stake, alongside Hess Guyana Exploration Ltd (30%) and CNOOC Petroleum Guyana Limited (25%).



Copyright (c) 2022 CercleFinance.com. All rights reserved.