Exxon Hits More Oil Pay Offshore Guyana



Exxon Hits More Oil Pay Offshore Guyana
Exxon Mobil Corp. and Hess Corp. Monday reported another oil discovery offshore Guyana at the Mako-1 well southeast of the Liza Field.

Exxon Mobil Corp. and Hess Corp. Monday reported another oil discovery offshore Guyana at the Mako-1 well southeast of the Liza Field, which just achieved first oil.

According to ExxonMobil, Mako-1 on the Stabroek Block adds to the acreage’s 6 billion-plus oil-equivalent barrels of estimated recoverable resources.

“New discoveries in this world-class basin have the potential to support additional developments,” Mike Cousins, ExxonMobil’s senior vice president of exploration and new ventures, said in a written statement emailed to Rigzone. “Our proprietary full-wave seismic inversion technology continues to help us better define our discovered resource and move rapidly to the development phase.”

ExxonMobil noted that drilling activities in Guyana continue with four drillships to further explore and appraise new resources and develop the resources within approved projects. The supermajor’s Esso Exploration and Production Guyana Limited operates the Stabroek Block and owns a 45-percent interest in it. Owners of the remaining 55 percent include coventurers Hess Guyana Exploration Ltd. (30 percent) and CNOOC Petroleum Guyana Limited (25 percent).

Hess reported separately that Mako-1 encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone. The company added the well was drilled in 5,315 feet (1,620 meters) of water.

“Mako-1 is the 15th discovery on the prolific Stabroek Block and further underpins a growing resource base for future developments,” commented Hess Corp. CEO John Hess.

To contact the author, email mveazey@rigzone.com.



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sally radford  |  December 23, 2019
What a spectacular year this has been for Guyana, crowned by First OIl and now a fifteenth discovery which will lift resources up to 7 billion barrels, a splendid result after 45 years of exploration. With milions of USD pouring into the economy, expectations are high in education in STEM, to prepare professional staff to manage the bonanza created by the multinational petroleum industry..