ExxonMobil has begun appraising the Lau-Lau find, according to a recent notice published by Guyana’s Maritime Administration Department (MARAD)
Activities are being undertaken by the MODU Sam Croft rig and are expected to end around July 30.
MARAD said the Lau-Lau-2 well site is situated approximately 110.4 nautical miles (204.5 kilometers) off the Coast of Guyana and covers an area of 0.29 square nautical miles (1 square kilometer).
Exxon discovered Lau-Lau in January 2022.
The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. To put this into context, the discovery in height, is equivalent to three (Georgetown) Marriott Hotels (105.88 ft) stacked on top of each other. It is also more than two times the height of the St. George’s Cathedral (143 ft), one of the world’s tallest freestanding wooden buildings.
Westwood Global Energy Group estimated the discovery to hold more than 100 million oil-equivalent barrels, with the presence of more gas than oil.
Guyana’s focus is beginning to shift to its natural gas potential. And Exxon is right in line with the government’s vision. The company is mulling whether its seventh Guyana development will pursue oil production, or perhaps, be the first standalone offshore gas development.
