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EXXON MOBIL CORP : TWO OIL DISCOVERIES IN GUYANA

Adam Noh

5 Jan, 2022

EXXON MOBIL CORP : TWO OIL DISCOVERIES IN GUYANA

ExxonMobil reports two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block off Guyana, which will add to previous estimate of recoverable resources of 10 billion barrels of oil equivalent for the block.

"These discoveries improve our understanding of the block, our continued confidence in its exploration potential and our opinion that the many discoveries to date could lead to up to 10 development projects," says the energy group.

As a reminder, the Stabroek block covers 26,800 km2. EssoExploration 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%).

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