The ExxonMobil company has announced another major oil discovery in Guyana.
In a statement, the company said the latest discovery was made at the Uaru-2 well in the Stabroek Block offshore Guyana.
“Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels”, Exxon said.
It explained that drilling at Uaru-2 encountered approximately 120 feet (36.7 meters) of high quality oil bearing reservoirs including newly identified intervals below the original Uaru-1 discovery.
Additionally it was announced that the number of oil production vessels offshore Guyana could be increased to as many as 10.
“The Uaru-2 discovery enhances our work to optimally sequence development opportunities in the Stabroek Block,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Progressing our industry-leading investments and well-executed exploration plans are vital in order to continue to develop Guyana’s offshore resources that unlock additional value for the people of Guyana and all stakeholders.”
In January 2020, ExxonMobil announced that Uaru-1 was the 16th discovery in the Stabroek Block. The well encountered approximately 94 feet (29 meters) of high-quality oil-bearing sandstone reservoir and was drilled in 6,342 feet (1,933 meters) of water.