ExxonMobil Confirms Oil Discovery Off Guyana

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ExxonMobil confirmed the discovery of oil from Liza-2 well, the second exploration well in the Stabroek block offshore Guyana.

The company confirmed the discovery with a recoverable resource of between 800 million and 1.4 billion oil-equivalent barrels.

“We are excited by the results of a production test of the Liza-2 well, which confirms the presence of high-quality oil from the same high-porosity sandstone reservoirs that we saw in the Liza-1 well completed in 2015,” said Steve Greenlee, president of ExxonMobil Exploration Company.

The Liza wells are located in the Stabroek block approximately 120 miles (193 kilometers) offshore Guyana.

The Liza-2 well was drilled by ExxonMobil affiliate Esso Exploration and Production Guyana, approximately 2 miles (3.3 km) from the Liza-1 well.

The Liza-2 well encountered more than 190 feet (58 meters) of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 17,963 feet (5,475 meters) in 5,551 feet (1,692 meters) of water, the company explained.

Esso Exploration and Production Guyana is operator and holds 45 percent interest in the Stabroek block. Hess Guyana Exploration holds 30 percent interest and CNOOC Nexen Petroleum Guyana holds 25 percent interest.

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