Tag Archives: Guyana’s proven oil reserves now 4 billion barrels; target now 750.000 barrels daily

Guyana’s proven oil reserves now 4 billion barrels; target now 750,000 barrels daily

Guyana’s proven oil-equivalent reserves now 4 billion barrels; revised production target now 750,000 barrels daily

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Monday it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases.

The increase follows completion of testing at the Liza-5 appraisal well, a discovery at Ranger, incorporation of the eighth discovery, Longtail, into the Turbot area evaluation and completion of the Pacora discovery evaluation. The previous recoverable resource estimate was 3.2 billion oil-equivalent barrels.       Continue reading