New oil discovery made in Guyana

(Photo: hitechboichem)

U.S. energy firm Exxon Mobil Corp has made another oil discovery offshore Guyana at the Uaru-2 well in the Stabroek Block.

This is the firm’s 19th oil discovery. But according to Reuters, the company did not specify how much the new find would add to the previous gross discovered recoverable resource estimate of more than 9 billion barrels of oil and gas.

With this latest discovery, Guyana continues to cement its position as a future leader crude producing nation.

Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp (HES.N) and China’s CNOOC Ltd (0883.HK) and began production in 2019.