Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Exxon strikes oil again in Guyana, raises output target

    Exxon strikes oil again in Guyana, raises output target

    October 27, 2022
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Guyana flag

    News wire — Exxon Mobil Corp has made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, the oil major said on Wednesday, adding more barrels to one of *the most closely watched new oil discoveries.

    Exxon did not disclose how much crude oil or gas it estimates the new discoveries to contain, but it also hiked a previous output forecast for the third quarter from older discoveries in the region.

    Guyana amounts for one third of the crude discovered in the world since Exxon first hit oil in the country in 2015, according to Rystad consultancy firm.

    The about 11 billion barrels of recoverable oil discovered prior to Wednesday’s finds, should make the country a global oil power in the coming years, Rystad says.

    Exxon and its partner Hess Corp said that the Liza Phase 1 and Phase 2, the first projects sanctioned offshore Guyana by the two companies, are producing above capacity and achieved an average of nearly 360,000 barrels of oil per day (bopd) in the third quarter.

    The companies expect total production from Guyana to cross a million barrels per day by the end of this decade.

    Reporting by Arunima Kumar and Shariq Khan in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh Kuber – Reuters

     

    Guyana flag

    Follow us on twitter

    Related News

    NEPZA, Federal Committee, Dangote Refinery FZE to crash petroleum products prices

    NNPC/First E&P JV achieves 10 million LTI-free man-hours across operations

    NCDMB, Dangote Refinery inaugurate Joint Committee to deepen local content

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    NEPZA, Federal Committee, Dangote Refinery FZE to crash petroleum products prices

    June 26, 2025

    ‘Cross-border financial crimes draining billions from West, Central Africa’ 

    June 26, 2025

    Tariff crisis stalls Nigeria’s gas-to-power expansion

    June 26, 2025

    NNPC/First E&P JV achieves 10 million LTI-free man-hours across operations

    June 26, 2025

    NCDMB, Dangote Refinery inaugurate Joint Committee to deepen local content

    June 26, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.