ExxonMobil’s Liza-1 well encounters oil offshore Guyana

Esso Exploration & Production Guyana Ltd., a unit of ExxonMobil Corp., reported an oil discovery on Stabroek block 120 miles offshore Guyana.

The Liza-1 well, which was spudded on Mar. 5 and drilled to 17,825 ft in 5,719 ft of water, encountered more than 295 ft of oil-bearing sandstone reservoirs, Esso E&P said.

It is the first well drilled by the company on the 6.6-million acre Stabroek block, said Stephen M. Greenlee, president of ExxonMobil Exploration Co. Over the coming months, Esso E&P will work to determine the commercial viability of the discovered resource and evaluate other resource potential on the block, Greenlee said.

ExxonMobil and other majors began taking an interest in the Guyana-Suriname region in 2012 (OGJ Online, June 4, 2012).

Esso E&P holds 45% interest in the prospect. Partners include Hess Guyana Exploration Ltd. 30% and CNOOC Nexen Petroleum Guyana Ltd. 25%.