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Hess and ExxonMobil announced a significant oil discovery on the Stabroek Block offshore Guyana at Whiptail. The Whiptail-1 well encountered 75 m of net pay in high-quality, oil-bearing sandstone reservoirs. Drilling is also ongoing at Whiptail-2, which is located 3 miles northeast of Whiptail-1 and has encountered 51 m of net pay. Drilling will continue at both wells to test deeper targets, and the results will be evaluated for future development. The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery, which was announced in January 2020, and approximately 3 miles west of the Yellowtail field.
First oil has begun flowing ahead of schedule from the Stabroek block offshore Guyana, a milestone from one of the world's most promising basins. The production occurred fewer than 5 years after the first discovery of hydrocarbons and underscores Guyana's emergence as a major oil producer. Output from the first phase of the Liza field soon will reach 120,000 B/D, with the first cargo of oil set to be sold early in 2020, according to operator ExxonMobil. "This historic milestone to start oil production safely and on schedule demonstrates ExxonMobil's commitment to quality and leadership in project execution," ExxonMobil Chairman and CEO Darren Woods said in a statement. "We are proud of our work with the Guyanese people and government to realize our shared long-term vision of responsible resource development that maximizes benefits for all."
ExxonMobil has made a final investment decision (FID) for the second development phase of the Liza field on the Stabroek Block offshore Guyana. Expected to start up in mid-2022, Liza Phase 2 will produce up to 220,000 B/D of oil. The major is proceeding with the project after receiving government and regulatory approvals. As with Liza Phase 1, the second phase will utilize a floating production, storage, and offloading (FPSO) vessel, which will be named Liza Unity. Six drill centers are planned with a total of 30 wells, including 15 production wells, nine water injection wells, and six gas injection wells.
ExxonMobil's Yellowtail-1 well on the Stabroek Block offshore Guyana encountered 89 m of "high-quality, oil-bearing sandstone," the major said, bringing its discovery count in Latin America's emerging oil powerhouse to 13. Located 10 km northwest of the Tilapia discovery, the Yellowtail-1 was drilled by the Noble Tom Madden drillship to 5,622 m in 1,843 m of water. Yellowtail-1 is the fifth discovery in the Turbot area--which includes the Tilapia, Turbot, Longtail, and Pluma discoveries--where ExxonMobil plans another Stabroek Block development hub. Yellowtail-1 adds to the 5.5 billion BOE in estimated recoverable resources on the block. "Similar to the Liza area, successive discoveries in the Turbot area have continuously grown its shared value," said Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures. The Noble Tom Madden will next drill the Hammerhead-2 well.
ExxonMobil is moving forward with its $9-billion offshore Payara field development in Guyana after reaching a final investment decision (FID) and securing government approvals. Payara is the third project in the Stabroek Block, expected to produce up to 220,000 B/D after startup in 2024 using the Prosperity floating production, storage and offloading (FPSO) vessel. The development also targets an estimated resource base of about 600 million BOE, with 10 drill centers planned with up to 41 wells, including 20 production and 21 injection wells. The Payara FID comes after the operator's first offshore Guyana project, Liza Phase 1, began production in late 2019. Liza Phase 2 remains on track for early 2022 production, which will yield up to 220,000 B/D at peak rates using the Liza Unity FPSO, currently under construction in Singapore.