article thumbnail

ExxonMobil announces significant oil discovery at Whiptail, offshore Guyana

Green Car Congress

ExxonMobil said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field. Hess Guyana Exploration Ltd. The Stabroek Block is 6.6

Guyana 243
article thumbnail

ExxonMobil discovery at Uaru-2 offshore Guyana; block recoverable resource estimate upped to 9B barrels oil-equivalent

Green Car Congress

ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). In January 2020, ExxonMobil announced that Uaru-1 was the 16 th discovery in the Stabroek Block. The Unity FPSO has a production capacity of 220,000 barrels of oil per day at peak rates. Hess Guyana Exploration Ltd.

Guyana 243
article thumbnail

ExxonMobil greenlights Liza development in offshore Guyana; $4.4B Phase 1 investment

Green Car Congress

Exxon Mobil Corporation will proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. Production is expected to begin by 2020, less than five years after discovery of the field. Hess Guyana Exploration Ltd.

Guyana 150
article thumbnail

ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

Green Car Congress

billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil’s reserves life at current production rates is 14 years. Offshore Guyana, ExxonMobil has discovered recoverable resources, including current proved reserves and additional resources, estimated to be 3.2 Resource Base.

2017 186
article thumbnail

ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

Green Car Congress

For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. ExxonMobil and its partners started production of oil at the Liza field in December 2019, less than five years after the first discovery of hydrocarbons and years ahead of industry average. million net acres.