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ExxonMobil finds more oil offshore Guyana

Thursday, October 05, 2017

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TEXAS, United States (CMC) — US based oil giant, Exxon Mobil Corporation on Thursday announced it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana.

Turbot is ExxonMobil's latest discovery to date in Guyana, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep.

Following completion of the Turbot-1 well, the Stena Carron drillship will move to the Ranger prospect — an additional well on the Turbot discovery is being planned for 2018.

“ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well in August and encountered a reservoir of 75 feet of high-quality, oil-bearing sandstone in the primary objective,” said ExxonMobil in a statement.

The well was safely drilled to 18,445 feet in 5,912 feet of water on September 29.

The Turbot-1 well is located in the southeastern portion of the Stabroek Block, approximately 30 miles to the southeast of the Liza phase one project.

“The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company.

“ExxonMobil, along with its partners, will continue to further evaluate opportunities on the Stabroek Block,” he added.

The Stabroek Block is 6.6 million acres.

Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs.

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