Exxon strikes more oil
Oil Rig, Stena Carron is conducting
Oil Rig, Stena Carron is conducting

THE government on Tuesday announced that United States (U.S.) oil giant ExxonMobil has found more oil offshore Guyana.

Minister of Natural Resources Raphael Trotman in a video statement published by the Department of Public Information (DPI), said the latest discovery was made in the Pacora-1 well offshore Guyana. The Pacors-1 well is located about four miles from the Payara-1 well in the Stabroek Block.

Trotman assured that more details on the latest discovery which occurred within the last 48 hours will be made available soon. “To date we have overseen the drilling of seven wells by Exxon, six of which have borne fruit, one has not. So far we have an excellent record,” said the Minister of Natural Resources, who congratulated the crew on the Stena Carron drillship. He said the Stena Carron has done about 90 per cent of the discoveries without a day lost or any injuries or lost man hours.

“That is commendable,” the minister stated.
Exxon’s Public Relations Director, Kimberly Brasington, in a brief comment said: “I can say that ExxonMobil Guyana confirms an oil discovery offshore Guyana at the Pacora-1 well.” She said more information will be released in a press release which the company will issue today.

Early January, the U.S. oil company announced its sixth oil discovery offshore Guyana, adding to its previous discoveries since 2015. The Company said its Ranger -1 well encountered approximately 230 feet of high-quality, oil-bearing reservoir, located some 60 miles northwest of its Liza phase one project within the Stabroek Block.

That discovery, Exxon had said provides a new play concept for the 6.6 million acre Stabroek Block. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.

Exxon and its affiliate Esso , began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 230 feet (70 meters) of high-quality, oil-bearing carbonate reservoir. That well was safely drilled to 21,161 feet (6,450 meters) depth in 8,973 feet (2,735 meters) of water. Additional exploration drilling is planned on the Stabroek Block this year, the company stated. Exxon is slated to begin oil production in 2020.

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