ExxonMobil finds more oil offshore Guyana

IRVING, June 21, 2018 – Well Longtail-1 in the Stabroek block offshore Guyana has struck about 78 metres of net oil deposits, operator ExxonMobil announced on Wednesday.

The find, the eighth consecutive for the super-major in the same block, comes after well Pecora-1 encountered 20 metres of oil pay in February and is near the Turbot discovery announced in October 2017.

“Longtail drilling results are under evaluation,” said Steve Greenlee, the president of ExxonMobil Exploration Company. “However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent, and will contribute to the evaluation of development options in this eastern portion of the block.”

ExxonMobil is planning to hire a second drillship offshore Guyana in addition to the Stena Carron, the company statement added.

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