ExxonMobil has made its fifth new oil discovery offshore Guyana after drilling the Turbot-1 well in the south-eastern portion of the Stabroek Block and nearly 50km south-east of Liza phase one project.

The new discovery complements the company’s earlier discoveries made at Liza, Payara, Snoek and Liza Deep.

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ExxonMobil’s affiliate Esso Exploration and Production Guyana drilled the Turbot-1 well by using the Stena Carron drillship.

The well was drilled safely to 5,622m in 1,802m of water depth and encountered a reservoir of 23m of high-quality oil-bearing sandstone in the primary objective.

After completion of the Turbot-1 well, the Stena Carron drillship will be mobilised to the Ranger prospect.

ExxonMobil is planning another well at the Turbot discovery next year.

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“Results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana.”

ExxonMobil Exploration Company president Steve Greenlee said: “The results from this latest well further illustrate the tremendous potential we see from our exploration activities offshore Guyana.

“ExxonMobil, along with its partners, will continue to further evaluate opportunities on the Stabroek Block.”

The block includes an area of nearly 26,800km².

Esso Exploration and Production Guyana holds a 45% interest in the block, along with the operatorship.

Hess Guyana Exploration holds a 30% stake, while the remaining 25% interest is with CNOOC Nexen Petroleum Guyana.

In July, ExxonMobil discovered an additional oil resource in Payara reservoir also located offshore Guyana, increasing its potential by nearly 500 million oil-equivalent barrels.