ExxonMobil discovers oil offshore Guyana

ExxonMobil has found oil offshore Guyana, the Reuters news agency reported on Thursday.

The discovery was made in the Stabroek block, which is situated in a region claimed by Venezuela.

Details of the discovery have not been released, and it is not yet certain whether it will yield quantities viable for commercial production. However, according to Reuters, the government said it was “optimistic of a hydrocarbon discovery of commercial quantities.”

ExxonMobil subsidiary Esso Exploration and Production Guyana is the operator at the Stabroek block with a 45-percent interest. Hess Guyana Exploration, a subsidiary of US-headquartered Hess, holds a 30-percent stake, while CNOOC Nexen Petroleum Guyana, a subsidiary of China National Offshore Oil Company, holds 25 percent.

The Deepwater Champion drillship, owned and operated by US rig provider Transocean, was deployed for the $200-million drilling campaign in the Stabroek block in March.