Estimated resources at the ExxonMobil-led offshore Stabroek block in Guyana have been raised to roughly 10 billion boe, up from a previous estimate of 9 billion boe, thanks to recent discoveries on the Stabroek Block at the Cataback well, 30% block partner Hess and Exxon Mobil announced Oct. 7.

The recent oil find at Catabck well is the 21st major discovery of the Stabroek partners, which also include China's CNOOC. The well encountered 74 m of net pay in high quality hydrocarbon bearing sandstone reservoirs of which 31 m is oil bearing. Cataback is located approximately 6 km east of Turbot-1 and was drilled in 1,807 m of water by the Noble Tom Madden.

"We continue to see multibillion barrels of additional exploration potential remaining on the block," said Hess CEO John Hess.

“This discovery adds to the resource in the Turbot/Tripletail area, enhancing the development project potential,” said Mike Cousins, senior vice president of exploration and new ventures at Exxon Mobil. “Our proprietary technologies, global exploration experience and drilling capabilities continue to yield positive results in the Stabroek Block, which will generate additional value for Guyana.”

Exxon Mobil’s recent discoveries and ongoing projects continue to contribute to the advancement of the Guyanese economy, with more than 2,850 Guyanese now supporting the company’s project activities. ExxonMobil and its key contractors have spent over $480 million with more than 800 Guyanese vendors since 2015.

Offshore