Page 4 - LatAmOil Week 43 2022
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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
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