ExxonMobil has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet of water and is located approximately 11 miles northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet of water and is located approximately 42 miles (southeast of the Liza field. These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels. Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.Separately, progress continues on infrastructure for future field development. The Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in the first quarter of 2022 and has a target of 220,000 barrels of oil per day at peak production.The hull for the Prosperity FPSO vessel, the third project on the Stabroek block at the Payara field is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024. The Field Development Plan and Environmental Impact Assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.The Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
ExxonMobil has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet of water and is located approximately 11 miles northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet of water and is located approximately 42 miles (southeast of the Liza field. These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels. Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.Separately, progress continues on infrastructure for future field development. The Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in the first quarter of 2022 and has a target of 220,000 barrels of oil per day at peak production.The hull for the Prosperity FPSO vessel, the third project on the Stabroek block at the Payara field is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024. The Field Development Plan and Environmental Impact Assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.The Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
