U.S. oil giant ExxonMobil Corporation has announced another major discovery of oil here at its Snoek well offshore Guyana, confirming some 82 feet of high-quality, oil-bearing sandstone reservoirs.

The news comes amid intense preparations by the Guyana Government, who recently appointed a petroleum advisor and a meeting with President David Granger and officials of the oil company.
ExxonMobil in a statement said drilling targeted similar, aged reservoirs as encountered in previous discoveries at Liza and Payara.
“The latest discovery at Snoek demonstrates the continued success we have achieved in this technically complex play, which is just part of the significant exploration province offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company, in a statement.

According to the statement, ExxonMobil affiliate Esso Exploration and Production Guyana Ltd commenced drilling of the Snoek well on February 22, 2017 and encountered 82 feet (25 metres) of high-quality, oil-bearing sandstone reservoirs. The well was safely drilled to 16,978 feet (5,175 metres) in 5,128 feet (1,563 metres) of water on March 18. The Snoek well is located in the southern portion of the Stabroek Block, approximately five miles (9 km) to the south-east of the 2015 Liza-1 discovery.
Following completion of the Snoek well, the Stena Carron drillship has moved back to the Liza area to drill the Liza-4 well.
“As we continue to evaluate the full potential of the broader Stabroek Block, we are also taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana,” said Greenlee.

The Stabroek Block is 6.6 million acres (26,800 square kilometres). Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

Meanwhile, in a statement Government said it welcomes the announcement made by ExxonMobil about the recent discovery of oil-bearing sands in the offshore Stabroek Block at the Snoek well. “The government is satisfied with the steady and safe progress being made in the execution of the exploratory work programme and congratulates the captain and crew of the Stena Carron for the continued good results of their endeavours. The news of another find offshore Guyana is a source of great pride and pleasure for all Guyanese,” the statement read. “The Government of the Cooperative Republic of Guyana, through the Ministry of Natural Resources, will continue to work with ExxonMobil and its partners in the exploration and development of resources in the Stabroek Block of the Guyana Basin, even as it continues to engage and update the citizens and important stakeholders about the preparations for petroleum production and other related activities.”

Visit to Snoek well
Only last week Prime Minister, Moses Nagamootoo, boarded the giant oil rig, Stena Carron, which was conducting the exploratory drilling operations on the Snoek well. The prime minister was accompanied by Vice-President, Sydney Allicock; Minister within the Ministry of Natural Resources, Simona Broomes, and Joanna Homer, Legal Officer.
According to a release from the Prime Minister’s Office, the 11-compartment, Norway-owned drill ship has done advanced feasibility drills at the billion-barrel Liza wells, which is some 10 miles from the Snoek well, the latest in the string of oil finds in Guyana.
The Guyanese delegation met Rig Manager Kenny Ward, Operations Manager Allan

Mathieson and Drilling Superintendent Billy Jack Lawson. They explained various aspects of the new oil find and revealed that pipes have already been laid to connect with the oil well at the site. Various specimen and quality tests are also under way. They also displayed the rig’s computerised system to monitor oil extraction and safety issues.
Also on the tour were Doug McGehee and Kimberly Brassington, Operations Manager and Director of Government Affairs of Esso Exploration & Production Guyana Limited, the local incorporated company of ExxonMobil.
ExxonMobil has announced massive finds of high-quality, oil-bearing sandstone in Liza 1, 2 and 3 and the nearby Payara reservoirs that made Guyana the latest petroleum frontier. ExxonMobil has given a preliminary schedule of oil production in 2020.

Transparency
President Granger during a meeting with ExxonMobil’s Executives on Wednesday, assured of Government’s commitment to the development of Guyana’s oil and gas sector in an atmosphere of transparency and trust so that the Parliamentary Opposition and the people of Guyana are fully involved in the process and views the development of a petroleum industry as one of natural interest and involvement.

The President said that it is important that there are regular and accurate announcements on matters pertaining to the development of the sector. “We are committed to the norm of transparency…so that we can move forward at a domestic level, not only in an atmosphere of transparency, but trust, so that all Guyana would see this not as a short-term bonanza; so that Guyanese will see this as a national industry….In this regard, we are walking step by step as the developments take place offshore and the developments in terms of our legislations within our regulatory framework in terms of the passage of information to various stakeholders in Guyana and the diaspora,so that we can create an environment which is stable and secure,” the President said.

President of ExxonMobil, Stephen Greenlee,said that the discussions with President Granger were very fruitful and that they look forward to a strengthened,productive and transparent relationship. “It was a very positive meeting. We are all very happy that we have such a cordial relationship with the Government; a very productive and transparent relationship,” he said. Other executives present at the meeting were Mr Mike Cousins, Executive Affairs Manager and Mr Rod Henson, Project Executive (Guyana Country Manager effective May 1)