Sunday, June 26, 2022

Discovered resources in Guyana set to increase as Exxon ramps up exploration operations

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ExxonMobil’s search for more crude is moving forward offshore Guyana, with campaigns ongoing at new prospects at the 6.6 million acres Stabroek Block.

The company is continuing exploration drilling operations at Seabob-1 and Kiru Kiru-1 utilising the Stena Carron and Stena DrillMAX, respectively.

Kiru Kiru-1 is located approximately 115.297 nautical miles (213 kilometers) offshore and covers an area of 0.29 square nautical miles (1 square kilometer). Seabob-1 is located approximately 95 nautical miles (175.9 kilometers) from the Coast of Guyana and covers an area of 0.29 square nautical miles (1 square kilometer).

Exxon has entered 2022 with huge success off the coast of Guyana, delivering five discoveries from five attempts, with a success rate now exceeding 90%.

So far, the US oil major said it has found close to 11 billion barrels of oil equivalent at the Stabroek Block, spanning over 30 discoveries since 2015.

“The numbers are incredible” – Exxon says of Guyana mega discoveries

Both Exxon and industry analysts have said the resources at Stabroek Block could more than double in the coming years as exploration operations ramp up. With significant swathes of the massive block still unexplored, more discoveries are likely on the way.

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