Exxon in seventh Guyana discovery

Guyana

IRVING, February 28, 2018 – ExxonMobil has made a seventh oil find in the Stabroek block offshore Guyana, the super-major announced on Wednesday.

The Pacora-1 exploration well has struck around 20 metres of oil pay, the statement added.

“This latest discovery further increases our confidence in developing this key area of the Stabroek block,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Pacora will be developed in conjunction with the giant Payara field, and along with other phases, will help bring Guyana’s production to more than 500,000 barrels per day.”

The news came as Guyana is preparing to set up a new Department of Energy to streamline E&P activity, separate reports in local media added.

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