ExxonMobil ups Stabroek resources estimate

IRVING, July 24, 2018 – ExxonMobil has revised the estimated recoverable resources in the Stabroek block offshore Guyana up by 25%, the super-major announced on Monday.

Following a series of recent discoveries – including Ranger, Pacora and Longtail – the partners in the block can now expect to produce about 4 billion boe over the lifetime of development there.

“The collective discoveries on the Stabroek block to date have established the potential for up to five FPSOs producing over 750,000 barrels per day by 2025,” the company said in a statement. “There is potential for additional production from significant undrilled targets and plans for rapid exploration and appraisal drilling, including at the Ranger discovery.”

ExxonMobil’s Guyana affiliate, Esso Exploration and Production, operates the block with a 45% interest. Its partners there are Hess (30%) and CNOOC subsidiary Nexen Petroleum Guyana (25%).

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