ExxonMobil has announced on January 12, 2017, a new offshore oil discovery in Guyana.
The oil and gas multinational says it has seen positive results from the Payara-1 well, which is the company’s 2nd oil discovery on the Stabroek block.
More than 95 metres of high quality, oil bearing sandstone reservoirs were discovered.
The well was safely drilled to 5,512 metres, 10 miles north-west of 2015’s Liza discovery.
An additional well under the Liza field was also discovered, estimated to contain between 100 million to 150 million barrels of oil.
«This important discovery further establishes the area as a significant exploration province,» said Steve Greenlee, president of Exxon Mobil Exploration, in a written statement.
