ExxonMobil boosts estimates for Liza oil discovery (Guyana)

Oil giant ExxonMobil has further solidified its claims of a ‘world class discovery’ offshore Guyana after completing the drilling of the Liza-3 well in the Stabroek block.

To remind, ExxonMobil already drilled the Liza-1 and Liza-2 wells and claimed to have found a ‘world class oil discovery.’ The Liza-1 well was drilled in March 2015 while the Liza-2 well was drilled earlier this year by ExxonMobil affiliate Esso Exploration and Production Guyana, some 2 miles (3.3 km) from the first Liza well.

Hess Corporation, ExxonMobil’s partner in the project, said in its financial report on Wednesday that the estimated recoverable resources for the Liza prospect are now expected to be at the upper end of the previously announced range of 800 million to 1.4 billion barrels of oil equivalent.

The Liza-1 encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs while the Liza-2 well encountered more than 190 feet (58 meters) of oil-bearing sandstone reservoirs in Upper Cretaceous formations.

The Liza wells are located approximately 120 miles (193 kilometers) offshore Guyana in the Stabroek block which covers some 6.6 million acres (26,800 square kilometers).

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

On a separate prospect, 25 miles northwest of the Liza discovery, Esso Exploration and Production completed drilling of the Skipjack exploration well which was classified as dry.

Offshore Energy Today Staff

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