ExxonMobil intends to boost its production capacity. Credit: Erich Westendarp from Pixabay.

ExxonMobil and its partners have made a new significant oil discovery in the Stabroek Block offshore Guyana at Whiptail.

The Whiptail-1 well, which is being drilled using the Stena DrillMAX rig, has encountered 246ft of net pay in high-quality oil-bearing sandstone reservoirs.

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The Whiptail discovery is located approximately four miles south-east of the Uaru-1 discovery and approximately three miles west of the Yellowtail field.

ExxonMobil exploration and new ventures senior vice-president Mike Cousins said: “This discovery increases our confidence in the resource size and quality in the southeast area of the Stabroek Block and could form the basis for a future development as we continue to evaluate the best sequence of development opportunities within the block.”

Hess, which owns a stake in the Stabroek Block, said that the Whiptail discovery will add to the discovered recoverable resource estimate of approximately nine billion barrels of oil equivalent.

It is also expected to support a future oil development in the south-east area of the Stabroek Block.

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The partners are also drilling the Whiptail-2 in 6,217ft of water using the Noble Don Taylor rig.

ExxonMobil said that the drilling at the two wells is aimed at testing deeper targets. The results are planned to be evaluated for future development.

In April 2021, ExxonMobil made an oil discovery at the Uaru-2 well, also located on the Stabroek Block.

The 26,800km² Stabroek Block is operated by ExxonMobil affiliate Esso Exploration and Production Guyana with 45% interest.

Other partners include Hess Guyana Exploration with a 30% interest and CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC, holding the remaining 25% stake.

By 2027, ExxonMobil aims to commission at least six projects. It sees potential for the development of up to ten projects to boost its current recoverable resource base.