News
Oil giant reports 6th major oil discovery in Guyana’s waters
Tuesday, January 9, 2018
AP | Exxon Mobil Corp. has reporting another significant oil discovery in the waters off Guyana.
The company says its Ranger-1 well hit a major oil reservoir in an area known as the Stabroek Block off the Caribbean country.
The well was drilled to a depth of 6,450 meters (21,161 feet) in 2,735 meters (8,973 feet) of water.
The discovery announced Friday by Exxon Mobil and partner Hess Corp. is the 6th significant find in the block since 2015. The area holds an estimated 3.2 billion barrels of recoverable oil. Exxon Mobil officials told reporters in Guyana last week that production would start in late 2019 or early 2020.
The Stabroek Block is 26,800 square kilometers (6.6 million acres).