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ExxonMobil did not specify the location of the first development target, in December 2019 and
drilling sites beyond noting that both of the new then brought Liza-2, the second development
finds were located south-east of the Liza and target, on stream in February 2022. The third
Payara fields. However, Hess, the US independ- target, Payara, is due to follow suit in late 2023
ent that has a non-operating stake in the project, and Yellowtail, the fourth, in 2025. Uaru, the
disclosed in a separate statement that Seabob-1 fifth, may begin production in 2026. ™
had been drilled at a site about 19 km south-
east of Yellowtail, while Kiru-Kiru-1 had been
drilled around 5 km south-east of Cataback.
The statement did not reveal the likely size of
the three new fields. But Liam Mallon, the pres-
ident of ExxonMobil Upstream Co., expressed
satisfaction with the new finds. “ExxonMobil
and its partners continue to accelerate explo-
ration, development and production activities
for the benefit of all stakeholders, including the
people of Guyana,” he said. “The resources we
are investing in and discovering offshore Guy-
ana will provide safe, secure energy for global
markets for decades to come.”
John Hess, the CEO of Hess, also struck an
upbeat note. “We are excited to announce two
more discoveries on the Stabroek Block, bring-
ing our total this year to seven,” he commented.
“These discoveries will add to the discovered
recoverable resource estimate for the block of
approximately 11bn barrels of oil equivalent
[boe], and we continue to see multi-billion bar-
rels of future exploration potential remaining.”
Equity in the Stabroek project is divided
between ExxonMobil, the operator, with 45%;
Hess, a US-based independent, with 30%; and
state-run China National Offshore Oil Corp.
(CNOOC), with 25%.
The US giant and its partners have already
made more than 25 commercial discoveries
at Stabroek since they first struck oil at Liza in
2015. They launched production at Liza-1, their Both of the new discoveries lie south-east of the Liza oilfield (Image: Hess)

Guyanese minister touts Yellowtail

permit’s capping stack requirement

GUYANA is on track to become the only hydro- Latin American and Caribbean region has a
carbon-producing state in the region to have a capping stack available on site. The equipment
capping stack, a sophisticated piece of equip- can only be transported from the US to author-
ment used to help contain catastrophic spills, ised users, and this process takes at least 10 days
available in country, according to Minister of because capping stacks are very large, with each
Natural Resources Vickram Bharrat. unit weighing 50-100 tonnes, he said.
Bharrat noted earlier this week that a sub- “There is no other oil-producing nation
sidiary of ExxonMobil (US) had agreed to bring around us” with direct access to such equip-
the capping stack to Guyana as a condition of its ment, the minister was quoted as saying by Oil-
permit for work at Yellowtail, the fourth devel- NOW.gy. “Trinidad [and Tobago] does not have
opment target at the Stabroek offshore block. a capping stack, nor Brazil or Suriname. Most
A key provision of the permit states that Esso of these countries pay the subscription, and the
Exploration & Production Guyana Ltd (EEPGL) capping stack is in Houston or another part of
must maintain, test and store the capping stack the world.”
within Guyana, he explained. Guyana will also be paying a subscription to
Currently, he added, no other country in the ensure access to the capping stack, he noted.

Week 30 27•July•2022 www. NEWSBASE .com P7