Exxon Mobil announces successful Payara-2 well, offshore Guyana
IRVING, Texas -- Exxon Mobil Corp. today announced that it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 MMboe.
These positive well results increase the estimated gross recoverable resource for the Stabroek Block to between 2.25 Bboe and 2.75 Bboe.
The well was successfully drilled by Exxon Mobil affiliate Esso Exploration and Production Guyana Limited and encountered 59 ft (18 m) of high-quality, oil-bearing sandstone in Payara field.
It was safely drilled to 19,068 ft (5,812 m) in approximately 7,000 ft (2,135 m) of water. The well is only 12 mi (20 km) northwest of the recently funded Liza phase 1 project on the Stabroek Block, which is approximately 130 mi offshore Guyana.
“Payara-2 confirms the second giant field discovered in Guyana,” said Steve Greenlee, president of Exxon Mobil Exploration Company. “Payara, Liza and the adjacent satellite discoveries at Snoek and Liza Deep will provide the foundation for world class oil developments and deliver substantial benefits to Guyana. We are committed to continue to evaluate the full potential of the Stabroek Block.”
The Stabroek Block is 6.6 million acres (26,800 km2). Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.
