ExxonMobil has elevated its estimated recoverable resource base in Guyana to over 8 billion oil-equivalent barrels and made an oil discovery northeast of the producing Liza area at the Uaru exploration well, the 16th well on the Stabroek Block.
The new recoverable resource estimate consists of 15 discoveries offshore Guyana by year-end 2019. The Uaru finding is the first of 2020 and will be added to the resource estimation at a later date.
Uaru encountered roughly 94 feet (29 meters) of a high-quality oil-bearing sandstone reservoir.
The effectively, drilled in 6,342 feet (1,933 meters) of water, is situated roughly 10 miles (16 kilometers) northeast of Liza, which started pumping oil in December 2019.
Production from the Liza Phase 1 improvement is currently ramping up. It can produce as much as 120,000 barrels of oil per day in the coming months, using the Liza Future floating production storage and offloading ship.
The Liza Unity FPSO, which will be used for the second phase of Liza development and can have a production capability of 220,000 barrels per day, is under development and anticipated to start pumping by mid-2022.
Pending authorities approvals and venture sanctioning of a third development, manufacturing from the Payara field north of the Liza discoveries, may begin as early as 2023, reaching an expected 220,000 barrels per day.
Four drillships in Guyana continue to discover and appraise new resources in addition to developing the resources within authorized initiatives. A fifth drillship is anticipated to be deployed later this year.