ExxonMobil has reported positive results from the Snoek well in offshore Guyana, confirming a new discovery at the Stabroek Block.

The drilling campaign targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara.

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The Snoek well is situated in the southern portion of the Stabroek Block, nearly 9km south-east of the 2015 Liza-1 discovery.

ExxonMobil Exploration president Steve Greenlee said: “The latest discovery at Snoek demonstrates the continued success we have achieved in this technically complex play, which is just part of the significant exploration province offshore Guyana.”

Esso Exploration and Production Guyana, an affiliate of ExxonMobil, started drilling of Snoek well on 22 February.

The well encountered high-quality, oil-bearing sandstone reservoirs at 82ft (25m). It was safely drilled to 16,978ft (5,175m) under 5,128ft (1,563m) of water on 18 March.

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"We are taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana."

Greenlee added: “As we continue to evaluate the full potential of the broader Stabroek Block, we are also taking the necessary steps to ensure the safe, cost-efficient and responsible development of this world-class resource, which can provide long-term, sustainable benefits to the people of Guyana.”

Snoek well was drilled by the Stena Carron drillship, which now has been mobilised back to the Liza area to drill the Liza-4 well.

The Stabroek Block includes an area of is 6.6 million acres.

Esso Exploration and Production Guyana owns 45% interest in the Stabroek Block along with the operatorship.

Hess Guyana Exploration has 30% interest, while CNOOC Nexen Petroleum Guyana owns the remaining 25% interest in this block.