ExxonMobil Guyana is continuing drilling operations at the Fangtooth well site, which yielded a discovery last year, the Maritime Administration Department (MARAD) revealed in a notice.
Operations are being undertaken by the Stena Carron rig and are expected to take place between March 2 and May 31.
Exxon first targeted the Fangtooth-1 well in 2022 and announced a discovery of approximately 164 feet (50 metres) of high-quality oil bearing sandstone reservoirs.
Schreiner Parker, Rystad Energy’s Vice President for Latin America and the Caribbean, had said estimates indicate Fangtooth-1 holds approximately 230 million barrels of oil equivalent.
Chief Executive Officer of Hess Corporation, John Hess, had said in January that Fangtooth is being targeted for the seventh development offshore Guyana.
Exxon also later targeted the Fangtooth SE-1 well, approximately eight miles southeast of the Fangtooth-1 discovery, and announced a discovery in January. Fangtooth SE-1 encountered approximately 200 feet of oil-bearing sandstone reservoirs.
Exxon and its partners will continue to pursue deeper targets like Fangtooth in the new year, reaching 18,000 feet.
Exxon affiliate Esso Exploration and Production Guyana Limited is the operator of the Stabroek Block and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.