ExxonMobil is drilling the Barreleye-3 appraisal well offshore Guyana using the Noble Don Taylor drillship, with operations scheduled for completion in February. The well is located approximately 195 kilometres from the coast.

Exploration Success and Resource Base

The drilling activity is part of ongoing exploration in the prolific Stabroek block. Previous wells, Barreleye-1 and Barreleye-2, encountered significant hydrocarbon-bearing reservoirs. To date, ExxonMobil has discovered more than 11 billion barrels of oil equivalent in recoverable resources in the block, where it operates with a 45% stake.

Current Production and Future Developments

The company is currently producing about 915,000 barrels of oil per day from the Stabroek block using four FPSO vessels at the Liza, Payara, and Yellowtail fields. Expansion is underway with three additional FPSOs already contracted for the Uaru, Whiptail, and Hammerhead developments.

Planned Longtail Project

ExxonMobil expects to sanction an eighth project this year for the Longtail field, which will be Guyana's first gas-driven project with a high condensate-to-gas ratio. Dutch company SBM Offshore is anticipated to secure the contract for the proposed FPSO, which will have a processing capacity between 200,000 and 290,000 barrels per day.