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Exxon’s 5th FPSO for Guyana could target development in area east of Liza complex

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ExxonMobil’s 5th development offshore Guyana could be targeting wells in an area east of the Liza complex where quality reservoirs have been confirmed, the oil major said on Wednesday.

“The Mako-2 evaluation well confirmed the quality, thickness and areal extent of the reservoir,” the company said. “When integrated with the previously announced discovery at Uaru-2, the data supports a potential fifth floating production storage and offloading vessel in the area east of the Liza complex.”

Drilling deeper Guyana wells at Stabroek Block a key objective for Hess this year

The Mako-1 discovery was announced in December 2019. The well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoir and was drilled in 5,315 feet (1,620 meters) of water.

On April 27, the company announced that it had hit pay at Uaru-2 encountering approximately 120 feet (36.7 meters) of high-quality oil-bearing reservoirs including newly identified intervals below the original Uaru-1 discovery. The well was drilled in 5,659 feet (1,725 meters) of water and is located approximately 6.8 miles (11 kilometers) south of the Uaru-1 well.

Basins with high-quality, low-cost discoveries will reign supreme

Three projects, including the already producing Liza-1 development, have been sanctioned so far in Guyana with a fourth at Yellowtail now pending government approval. When Yellowtail comes online in 2025, total production at the Stabroek Block will surpass 800,000 barrels of oil per day. The potential fifth development in the Mako/Uaru area could see output rapidly approaching or surpassing the 1 million barrels per day mark by 2027.

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