ExxonMobil made an oil discovery offshore Guyana at the Uaru-2 well in the Stabroek block, adding to block’s gross recoverable resource estimate of more than 9 billion boe.
Drilling at Uaru-2 encountered 120 ft (36.7 m) of high-quality oil-bearing reservoirs including newly identified intervals below the original Uaru-1 discovery. The well was drilled in 5,659 ft (1,725 m) of water and lies some 6.8 miles (11 km) south of the Uaru-1 well.
In January 2020, ExxonMobil Uaru-1 marked the 16th discovery in the block. The well encountered 94 feet (29 m) of high-quality oil-bearing sandstone reservoir and was drilled in 6,342 ft (1,933 m) of water.
In March 2021, ExxonMobil secured a sixth drillship, the Noble Sam Croft, for exploration and evaluation drilling activities offshore Guyana. A fourth project, Yellowtail, has been identified within the block with anticipated start up in late 2025 pending government approvals and project sanctioning. This project will develop the Yellowtail and Redtail fields, which lie about 19 miles (30 km) southeast of the Liza developments.
ExxonMobil anticipates at least six projects online by 2027 and sees potential for up to 10 FPSOs to develop its current recoverable resource balance.
Start-up of Liza Phase 2 remains on target for 2022, as the Liza Unity FPSO prepares for sail away from Singapore later this year. The Unity FPSO has a production capacity of 220,000 b/d of oil at peak rates. The hull for the Prosperity FPSO, the third project at Payara field, is complete, and topsides construction activities have commenced in Singapore with a startup target of 2024.
ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. is operator of the 6.6-million-acre Stabroek block with 45% interest. Hess Guyana Exploration Ltd. holds 30% and CNOOC Petroleum Guyana Ltd. holds 25%.