More oil found in Guyana!

(Department of Public Information) ExxonMobil today said it has made another oil discovery- it’s 15th – offshore Guyana at the Mako-1 well southeast of the Liza field. According to Exxon, the discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block.

Mako-1 encountered approximately 164 feet (50 metres) of a high-quality oil-bearing sandstone reservoir. Mako-1, drilled in 5,315 feet (1,620 metres) of water, is located approximately six miles (10 kilometres) southeast of the Liza field, which began producing oil in December 2019.

Senior vice president of exploration and new ventures at ExxonMobil, Mike Cousins said, “New discoveries in this world-class basin have the potential to support additional developments,” said Mike Cousins.

The Liza Phase 1 development achieved first oil on December 20, 2019, and will produce up to 120,000 barrels of oil per day utilizing the Liza Destiny floating production storage and offloading vessel (FPSO).

The Liza Unity FPSO, which will be employed for the second phase of Liza development and will have a production capacity of 220,000 barrels of oil per day, is under construction and expected to start production by mid-2022.

Read more at: Department of Public Information

Source: CARICOM TODAY