ExxonMobil: raises estimates for Guyana offshore block
(CercleFinance.com) - ExxonMobil expects the Stabroek oil block to contain more resources than first estimated, after making its 10th discovery at this block, which is located offshore Guyana, the company said on Monday.
The US oil giant has increased its estimate of the discovered recoverable resource for the Stabroek block to over 5 billion barrel of oil equivalents, up from a previous estimate of above 4 billion barrel of oil equivalents.
This upgrade comes as a result of a further evaluation of previous discoveries and includes a new discovery in the southeastern portion of the block, the company said.
The Pluma-1 well has actually found approximately 37 metres of high-quality hydrocarbon-bearing sandstone reservoir, at a depth of 5,013 metres in 1,018 metres of water, Exxon said.
ExxonMobil's unit Esso is the operator and holds 45% of the block.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The US oil giant has increased its estimate of the discovered recoverable resource for the Stabroek block to over 5 billion barrel of oil equivalents, up from a previous estimate of above 4 billion barrel of oil equivalents.
This upgrade comes as a result of a further evaluation of previous discoveries and includes a new discovery in the southeastern portion of the block, the company said.
The Pluma-1 well has actually found approximately 37 metres of high-quality hydrocarbon-bearing sandstone reservoir, at a depth of 5,013 metres in 1,018 metres of water, Exxon said.
ExxonMobil's unit Esso is the operator and holds 45% of the block.
Copyright (c) 2018 CercleFinance.com. All rights reserved.