ExxonMobil in 5th Oil Find off Guyana

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GEORGETOWN, Guyana – The ExxonMobil Corporation has announced a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana.

This is its latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and Liza Deep.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on August 14, and encountered a reservoir of 75 feet of high-quality, oil-bearing sandstone in the primary objective.

The well was safely drilled to 18,445 feet in 5,912 feet of water on September 29.

“The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana,” said Steve Greenlee, president of ExxonMobil Exploration Company. “ExxonMobil, along with its partners, will continue to further evaluate opportunities on the Stabroek Block.”

The Turbot-1 well is located in the southeastern portion of the 26,800-square-kilometre Stabroek Block, about 30 miles to the southeast of the Liza Phase 1 project.

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