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ExxonMobil: new oil discovery in Guyana

(CercleFinance.com) - US energy giant ExxonMobil has announced making a seventh oil discovery off the coast of Guyana, following the drilling of the Pacora-1 exploration well, which was launched a month ago.

Located about four miles west of the Payara-1 well, the Pacora-1 well follows previous discoveries on the Starbroek block at Liza, Payara, Liza Deep, Snoek, Turbot and Ranger.

"Pacora will be developed in conjunction with the giant Payara field, and along with other phases, will help bring Guyana production to more than 500,000 barrels per day, " said Steve Greenlee, president of ExxonMobil Exploration Company.

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