ExxonMobil has initiated a new exploration campaign in the Stabroek block offshore Guyana, aiming to discover additional hydrocarbon resources. The company, which operates the block with a 45% interest, has already made significant discoveries in the area, with recoverable resources exceeding 11 billion barrels of oil equivalent.

Current Exploration Activity

The ongoing campaign involves drilling the Goatfish-1 wildcat well, located approximately 204 kilometers from the Guyanese coast. This operation is being conducted using the Noble Sam Croft drillship and is scheduled for completion in late March.

Production and Development Status

ExxonMobil's current oil production in Guyana stands at about 920,000 barrels per day. This output is facilitated by four floating production, storage and offloading (FPSO) vessels—Liza Destiny, Liza Unity, Prosperity, and One Guyana—deployed at the Liza, Payara, and Yellowtail fields. Furthermore, three additional FPSOs have been contracted to support the upcoming Uaru, Whiptail, and Hammerhead developments within the Stabroek block.

Future Projects

The company plans to sanction an eighth project this year for the Longtail field, which is anticipated to be Guyana's first gas-driven project with a high condensate-to-gas ratio. The FPSO contract for this development is expected to be awarded to SBM Offshore. This proposed floater will be large-scale, with a processing capacity ranging between 200,000 and 290,000 barrels per day.