ExxonMobil, the operator of the Stabroek Block off Guyana, has announced three new oil discoveries at Barreleye-1, Patwa-1 and Lukanani-1, which raise the recoverable resource for the Stabroek Block by around 1 Gboe to nearly 11 Gboe. The three discoveries add to the Fangtooth and Lau Lau discoveries announced earlier in 2022.
The Stabroek Block’s hydrocarbon recoverable resource base is now estimated at more than 11 Gboe, enough to support up to 10 projects. ExxonMobil plans to have four floating production storage and offloading (FPSO) vessels with a capacity of more than 800,000 bbl/d on the Stabroek Block by the end of 2025. Two projects are already operating, namely Lisa Phase 1, which produces around 130,000 bbl/d using the Liza Destiny FPSO, and Liza Phase 2, which started production in February 2022 using the Liza Unity FPSO (production ramping up to 220,000 bbl/d). In addition, the 220,000 bbl/d Prosperity FPSO (currently under construction) should be used for the Payara project by the end of 2023 and the fourth project, Yellowtail (submitted for government and regulatory approval) should produce 250,000 bbl/d as of 2025 using the One Guyana FPSO.
ExxonMobil owns a 45% stake in the Stabroek block (operator), in partnership with Hess Guyana (30%) and CNOOC (25%).