ExxonMobil Has Started Drilling on Two More Sites Offshore Of Guyana

Drilling operations have begun on January 5^th at the Tilapia-1 well site within the Stabroek Block. Tilapia-1 is located 3.4 miles (5.5 Km) west of the Longtail-1 well. Eleven vessels are involved in the operation: Noble Tom Madden, M/V Cat Island, M/V Eland, M/V Oryx, Clarence Triche, Liam J Mc Call, Paradise Island, Sanibel Island, Horn Island, Robert Adams and Jack Edwards. This three-month drilling operation covers an area of one Square kilometers.

On January 2^nd Esso Exploration and Production Guyana Limited (EEPGL) has begun a three-month exploration at the Haimara-1 well site. The Stena Carron is the drillship supported by the same vessels being used for the Tilapia-1 well.

On December 3^rd ExxonMobil announced that it had made its 10^th discovery offshore Guyana since May 2015 and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels.

“The discovery of a resource base of more than 5 billion oil-equivalent barrels in less than four years is a testament of our technical expertise and rigorous evaluation and pursuit of high-potential, high-risk opportunities in this frontier area”, said Neil Chapman, ExxonMobil senior vice president. “we will continue to apply what we’ve learned to identify additional exploration prospects and potential future discoveries that will deliver significant value to Guyanese people, our partners and shareholders”

Puma-1 was the 10^th discovery that holds high-quality hydrocarbon-bearings sandstone reservoir. The noble Tom Madden drillship began drilling in November 1. The well is located at about 17 miles (27 Km) south of the Turbot-1 well.

“Together with the government and people of Guyana, we are continuing to grow the value of the Stabroek Block for Guyana, our partners and ExxonMobil with successful exploration investments” Stated the President of ExxonMobil Exploration Company Steve Greenlee.

The Liza Phase 1 development is expected to begin production up to 120,000 bopd by early 2020, utilizing the floating storage Liza Destiny production and offloading vessel.

With the interruption by a Venezuelan Navy ship that illegally went into Guyana’s water in December in the western part of the Liza-1 block. It did not disrupt the gathering of seismic data, Guyana has lodged a protest with Caracas. The United States has also called on Venezuela to respect Guyana’s sovereignty.