ExxonMobil made an oil discovery offshore Guyana and increased the already existing 9 billion oil-equivalent barrels of resources in the region, the company said in a statement on Tuesday.
The discovery at the Uaru-2 well in the Stabroek Block is set to boost Guyana’s potential to the equivalent of 10 floating production storage and offloading vessels, ExxonMobil said, adding that six drillships now operate offshore Guyana.
Uaru-2 is roughly seven miles south of Uaru-1, which was drilled last year and was the company's 16th discovery in the country at the time.
The company said the new projects would drive investment in the Guyanese economy, as more than 2,300 Guyanese are supporting project activities on and offshore, which reflects a more than 20% increase since the end of 2019.
“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,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.
By Sibel Morrow