Exxon strikes oil again offshore Guyana in 7th discovery

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ExxonMobil has made its 7th oil discovery offshore the South American country of Guyana at the Pacora well, located approximately 4 miles from the Payara reservoir in the Stabroek Block.

OilNOW understands that while the discovery is not the largest to date, the find is significant particularly due to its proximity to the Payara reservoir where a third development project is set to get underway by 2023.

Kimberly Brasington, ExxonMobil’s Senior Director, Public and Government Affairs confirmed the discovery to OilNOW on Tuesday. “ExxonMobil Guyana confirms an oil discovery offshore Guyana at the Pacora-1 well,” she said, indicating that more details will be made available in a press release on Wednesday.

A three-month drill programme got underway at the Pacora-1 well site on January 25. Six vessels were part of the fleet aiding in the exploration activities at the Pacora prospect.

On January 5 ExxonMobil announced its 6th discovery in Guyana at the Ranger-1 well adding to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot. The company said at the time additional exploration drilling is planned on the Stabroek Block for 2018, including potential appraisal drilling at the Ranger discovery.

The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

4 COMMENTS

  1. I would like to see hospitals, schools, the seawalls, and the streets of Guyana built up. The people of Guyana that have suffered so long to gain from the profit of the oil in this region

  2. Millicent, I agree that Guyanese need to see great developments in all those areas, especially the sea walls. Great infrastructure work needs to be done on those old sea walls. They need to be raised and the areas beautify.

  3. The government should closely focus on constructing its national strategic development plan for medium and long term, to match with the expected revenue inflows from these petroleum discoveries . Please do a better job on developing your country than Trinidad & Tobago managed to do with the expected windfall . Put your people and improving their lives at the centre of development

  4. A 30 year infrastructure plan should be implemented to benefit Guyanese.
    Education , security, dependable ministries to oversee and encourage sustainable growth .wages to surpass inflation which will kill corruption.And as already mentioned Roads, hospitals, Electric grids.
    This is so achievable, for a small population. And immigration should be encouraged and documented.

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