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ExxonMobil confirms 8th oil discovery offshore Guyana at the Longtail1 well

…company to add another exploration vessel offshore Guyana Exxon’s Stena Carron drillshipExxonMobil in a statement on Wednesday said it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block.According to the US based oil giant, the Stena Carron drillship commenced drilling on May 25, 2018 and the Longtail-1 well was safely drilled to 18,057 feet (5,504 meters) depth in 6,365 feet (1,940 meters) of water, where they subsequently encountered approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir.“The Longtail discovery is in close proximity to the Turbot discovery southeast of the Liza field,” said Steve Greenlee, president of the ExxonMobil Exploration Company.He explained that the “Longtail drilling results are under evaluation. However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent, and will contribute to the evaluation of development options in this eastern portion of the block.”ExxonMobil said it is currently making plans to add a second exploration vessel offshore Guyana in addition to the Stena Carron drillship, bringing its total number of drillships on the Stabroek Block to three.“The new vessel will operate in parallel to the Stena Carron to explore the block’s numerous high-value prospects.”According to the oil giant, the Noble Bob Douglas is completing initial stages of development drilling for Liza Phase 1, for which they announced a funding decision in 2017.Moreover, in explaining the timeline of its production output the company posited that “Phase 1 will consist of 17 wells connected to a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day. First oil is expected in early 2020. Phase 2 concepts are similar to Phase 1 and involve a second FPSO with production capacity of 220,000 barrels per day. A third development, Payara, is planned to follow Liza Phase 2.”According to ExxonMobil, “Guyanese businesses, contractors and employees continue to play an important role in ExxonMobil’s operations in the country. ExxonMobil and project partners spent $24 million with more than 300 local suppliers in 2017 and opened the Centre for Local Business Development in the capital city of Georgetown to promote the establishment and growth of small- and medium-sized local businesses.“ExxonMobil’s priorities in Guyana are focused on enabling local workforce and supplier development and collaborating with government to support the growth and success of its economy, both in the energy and non-energy sectors.”The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is the operator and holds 45 per cent interest in the Stabroek Block.Hess Guyana Exploration Ltd. holds 30 per cent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 per cent interest. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedExxonMobil announces fifth oil discovery offshore GuyanaOctober 5, 2017In “Business”ExxonMobil makes 10th oil discovery offshore GuyanaDecember 3, 2018In “Business”BREAKING: ExxonMobil announces 13th discovery offshore GuyanaApril 18, 2019In “Business”

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