EXXONMOBIL MAKES NEW OIL DISCOVERY ON THE STRABROEK BLOCK OFFSHORE GUYANA

September 10, 2021

ExxonMobil partner Hess Corporation announced another oil discovery on the Stabroek Block offshore Guyana at Pinktail. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality oil bearing sandstone reservoir. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 development, which began production in December 2019, and 3.7 miles (6 kilometers) southeast of Yellowtail-1. Pinktail was drilled in 5,938 feet (1,810 meters) of water by the Noble Sam Croft.
Hess CEO John Hess said: “We are happy to announce our 20th significant discovery on the Stabroek Block, which will add to the discovered recoverable resource estimate of more than 9 billion barrels of oil equivalent.”
The Stabroek Block is 6.6 million acres. At least six FPSOs are expected to be online by 2027 with the potential for up to 10 FPSOs on the block to develop the current discovered recoverable resource base. ExxonMobil affiliate 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 Petroleum Guyana Limited holds 25 percent interest.
(Source: Hess – Image: Drillship Noble Sam Croft)