New oil finds push Guyana above industry standards

US Oil giant, ExxonMobil on Wednesday confirmed the two additional discoveries offshore Guyana at Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries in the Stabroek Block to 12.

Guyana Chronicle on Wednesday broke the story on the discoveries hours before ExxonMobil and the Department of Energy issued two separate statements on this new development.

The discoveries at Tilapia-1 and Haimara-2 build on the previously announced estimated recoverable resource of more than five billion oil-equivalent barrels in the Stabroek Block.
ExxonMobil said that Tilapia-1 is the fourth discovery in the Turbot area that includes the Turbot, Longtail and Pluma discoveries.

“Tilapia-1 encountered approximately 305 feet (93 meters) of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet (5,726 meters) in 5,850 feet (1,783 meters) of water,” the oil giant explained. The well is located approximately 3.4 miles (5.5 kilometres) west of the Longtail-1 well.