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New oil discovery in offshore Guyana

by The 100 Companies

ExxonMobil’s discoveries in Barreleye-1, Patwa-1 and Lukanani-1 potentially increase the estimate of recoverable resource for the Stabroek Block by nearly 11 billion oil-equivalent barrels. This brings the company’s total discoveries offshore of Guyana in 2022 to five, validating its exploration strategy.

ExxonMobil currently has four sanctioned projects offshore Guyana. Liza Phase 1 produces around 130,000 barrels per day. Liza Phase 2, which started production in February, is steadily increasing to 220,000 barrels per day. Both Paraya and Yellowtail will add 220,000 and 250,000 barrels per day, respectively, once they go online.

Paraya is targeted by year-end 2023 while Yellowtail is 2025.

Cyndee Woolley, The Southwest Florida 100

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