The ExxonMobil company announced another major oil find in Guyana.
In a statement this morning, Exxon announced that the discovery was made at Whiptail in the Stabroek Block offshore Guyana.
According to Exxon, the Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs.
The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field.
“This discovery increases our confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for a future development as we continue to evaluate the best sequence of development opportunities within the block,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.
ExxonMobil envisions at least six projects online by 2027 and sees potential for up to 10 projects to develop its current recoverable resource base.
The Liza Destiny floating production storage and offloading (FPSO) vessel is currently producing about 120,000 barrels of oil per day, the company said.
The startup of Liza Phase 2 remains on target for early 2022, and the Liza Unity FPSO expects to sail from Singapore to Guyana in late August 2021. The Unity has a production capacity of approximately 220,000 barrels of oil per day.
Yellowtail has been identified as the fourth development project in the Stabroek Block offshore Guyana with an anticipated startup in 2025.