Page 4 - LatAmOil Week 43 2022

LatAmOil COMMENTARY LatAmOil

(Photo: ExxonMobil)
ExxonMobil’s latest

successes at Stabroek

The US super-major, which has just announced two new discoveries at the Yarrow-1 and

Sailfin-1 exploration wells, is set to remain at the head of Guyana’s emerging oil sector

EXXONMOBIL has taken yet another step this wells; nor did it state the exact location of the
week to shore up the foundation of its position wells.
WHAT: as the leader of Guyana’s emerging oil industry. However, notices published by Guyana’s
The company has made On October 26, the US super-major announced Maritime Administration Department indicate
two new finds at Yarrow-1 the discovery of two new fields within Stabroek, that both Sailfin-1 and Yarrow-1 were drilled
and Sailfin-1, to the the offshore block where it serves as operator. south-east of Payara, the oilfield that has been
south-east of Payara. According to a company press release, the identified as the third development target at
super-major’s Esso Exploration and Produc- Stabroek.
WHY: tion Guyana Ltd (EEPGL) subsidiary has found This probably puts the new discoveries to
No less than nine discov- hydrocarbons in the Sailfin-1 and Yarrow-1 the east of Liza, the massive field that contains
eries have been made at exploration wells. Sailfin-1 encountered around Liza-1 and Liza-2, the first and second develop-
Stabroek this year.
95 metres of hydrocarbon-bearing sandstone ment targets at Stabroek, and north of Uaru, the
in 1,407-metre-deep water, the press release fifth development target. All of these sites are
WHAT NEXT: noted, while Yarrow-1 encountered about 23 known to contain crude oil, and Liza also holds
ExxonMobil is building
up to the launch of the metres of hydrocarbon-bearing sandstone in associated gas that will be used for Guyana’s gas-
Payara project in late 1,085-metre-deep water. (It also said the com- to-energy (GTE) project.
2023. pany had used the Stena Carron drillship to sink The US major also did not comment on the
both wells.) likely size of the three new fields. Even so, Liam
Mallon, the president of ExxonMobil Upstream
New discoveries Co., said the new finds were evidence of the
EEPGL has not specified whether it had found company’s successful approach to the Stabroek
gaseous or liquid hydrocarbons in either of the project.

P4 www. NEWSBASE .com Week 43 26•October•2022