More oil discovered offshore Guyana

Last Updated on Wednesday, 26 April 2023, 9:01 by Denis Chabrol

Hess Corporation, a partner in the Stabroek Block offshore Guyana, on Wednesday announced the discovery of more oil in that concession.

“The Corporation today announced an oil discovery at the Lancetfish-1 well on the Stabroek Block, offshore Guyana,” Hess said. The operator, ExxonMobil, was yet to announce the fresh discovery  which is approximately 4 miles southeast of the Fangtooth discovery.

Hess said The Lancetfish-1 well encountered approximately 92 feet of oil bearing sandstone reservoir. The well was drilled in 5,843 feet of water by the Noble Don Taylor.

The Kokwari-1 exploration well was drilled during the quarter and did not encounter commercial quantities of hydrocarbons.

ExxonMobil currently produces 400,000 barrels of oil per day from the Liza I and Liza II wells. The Stabroek Block has an estimated 11 million barrels of oil equivalent.

The Liza Unity FPSO, which started production in February 2022, reached its production capacity of approximately 220,000 gross bopd in July 2022.

“In the first quarter of 2023, we sold nine cargos of crude oil from Guyana compared with two cargos in the prior year quarter,” Hess said.