GUYANA’S oil resource is expanding even more as ExxonMobil Guyana, today, announced two more oil discoveries in the Stabroek Block offshore Guyana, a release from the company said.

“The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field,” the company said.

“The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field,” it added further.

The global oil giant stated these discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels.

More on this story in the January 6 edition of the Guyana Chronicle.