Exxon Mobile announces another oil discovery on Guyana Beach

May 15, 2021 ExxonMobil Baton Rouge Refinery view in Baton Rouge, Louisiana, USA. Photo taken

September 9 (Reuters) – US oil giant Exxon Mobile Corporation (XMN) said Thursday that it has discovered a new oil and gas exploration site in Pinkell, a suburb of Stabrock Block off the coast of Guyana.

Exxon operates a 6.6 million hectare Stroke block as part of Hess Corp (HES.N) and CNOOC Ltd (0883.HK) of China. He made at least 20 discoveries there.

The company said in a recent statement that it would increase its estimated oil and gas reserves by more than 9 billion barrels.

Lisa Unity, the company’s second offshore manufacturing company, sailed from Singapore to Guyana in early September. The floating storage and unloading (FPSO) ship is crossing the East Indian Ocean, arriving in Guyana on November 15, according to the Reconstruction Econ.

Unity FPSO will be used for Lisa Phase 2 development and is expected to start production in early 2022 with a production capacity of 220,000 barrels (BDD) of oil per day.

A.D. At the end of 2019, the coalition began production. Hess CEO John Hess told Barclay’s CEO Energy-Power Conference on Thursday that the Lisa 1 project was producing 120,000 bpd in nominal capacity.

In 2027, he said, the Starbuck block expects to produce at least 1 million BPD through six FPSOs.

The third Piara project in the Stroke block is expected to begin in 2024.

Exx is expected to present a fourth development plan for Guyana at the end of this year.

Hess’s chief operating officer, Greg Hill, said the Guyana government expects to approve the bill for the fourth project later this year.

Luke Cohen in Bengalru and New York by Arunima Kumar Report; Edited by Vienna David, Edmund Blair and David Gregory

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