ExxonMobil Discovers More Oil Offshore Guyana.

Fangtooth-1 was drilled by the Stena DrillMAX, about 11 miles (18 km) northwest of Liza field in 6,030 ft (1,838 m) of water and encountered about 164 ft (50 m) of high-quality oil-bearing sandstone reservoirs.

Lau Lau-1 was drilled by the Noble Don Taylor in 4,793 ft (1,461 m) of water and is about 42 miles (68 km) southeast of Liza field. The well encountered about 315 ft (96 m) of high-quality hydrocarbon-bearing sandstone reservoirs.

Fangtooth and Lau Lau will add to previous recoverable resource estimate of 10 billion boe for the block, which covers 6.6 million acres (26,800 sq km).

In other progress, the Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in first-quarter 2022 and has a target of 220,000 b/d at peak production.

The hull for the Prosperity FPSO, the third project on Stabroek block at Payara field, is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024.

The field development plan and environmental impact assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. is operator at Stabroek block (45%) with partners Hess Guyana Exploration Ltd. (30%) and CNOOC Petroleum Guyana Ltd. (25%).

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