US-based oil giant, ExxonMobil has struck oil again this time at the Longtail-1 exploration well, making this the 8th successful discovery.
In a press release ExxonMobil’s partner Hess Corp said this discovery creates the potential for additional resource development in the southeast area of the Stabroek Block.
“Longtail drilling results are under evaluation. However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent, and will contribute to the evaluation of development options in this eastern portion of the block.”
ExxonMobil is currently making plans to add a second exploration vessel offshore Guyana in addition to the Stena Carron drillship, bringing its total number of drillships on the Stabroek Block to three.
The new vessel will operate in parallel to the Stena Carron to explore the block’s numerous high-value prospects.
Guyana gained world attention in May last year, when ExxonMobil announced the discovery of more than 90 meters of high-quality, oil-bearing sandstone reservoirs about 120 miles off its coastline.
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