ExxonMobil has made another two discoveries in the Stabroek block, bringing the total number of its finds offshore Guyana to more than 25.
The Seabob and Kiru-Kiru finds are the sixth and seventh this year.
The Seabob-1 found around 40 metres of hydrocarbon-bearing sandstone. The Stena Carron drillship carried out the well in 1,421 metres of water.
The Kiru-Kiru-1 well found 30 metres. The Stena DrillMAX ship drilled this well, in 1,756 metres of water. Work at this well are continuing.
Exxon drilled the wells southeast of its Liza and Payara projects. Exxon reported three discoveries in Guyana in April. It drilled the Barreleye-1, Patwa-1 and Lukanani-1 wells also in the southeast.
“ExxonMobil and its partners continue to accelerate exploration, development and production activities for the benefit of all stakeholders, including the people of Guyana,” said Liam Mallon, president of ExxonMobil Upstream Company. “The resources we are investing in and discovering offshore Guyana will provide safe, secure energy for global markets for decades to come.”
Hess CEO John Hess said: “These discoveries will add to the discovered recoverable resource estimate for the block of approximately 11 billion barrels of oil equivalent, and we continue to see multibillion barrels of future exploration potential remaining.”
Production boom
There are two FPSOs on Stabroek, the Liza Destiny and Liza Unity, which are producing above their initial target of 340,000 barrels per day.
A third FPSO on Payara is due to start producing in 2024 and reach 220,000 bpd. A fourth, at Yellowtail, will produce 250,000 bpd and start in 2025.
Hess said six FPSOs were expected to be producing on Stabroek by 2027. These would provide production capacity of more than 1mn bpd. There is the potential, it said, for up to 10 FPSOs. The company has said the breakeven price for projects on Stabroek are $25-35 per barrel.
Exxon is the operator of the 26,800 square km Stabroek block, with a 45% stake. Hess Guyana Exploration has a 30% and CNOOC Petroleum Guyana has 25%.
In January, Exxon announced two more discoveries at Stabroek, at the Fangtooth-1 and Lau Lau-1 wells.
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