Exxon Mobil Corp. has discovered more oil on the Staborek block offshore Guyana, northeast South America, with the Turbot-1 well. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on Aug. 14, 2017, and encountered a reservoir of 23 m of high-quality, oil-bearing sandstone in the primary objective.
Exxon Mobil said that it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total discovery to approximately 500 million barrels oil equivalent. The result increases the estimated recoverable resources in Guyana’s Stabroek Block formation to about 2.25 to 2.75 billion barrels. By way of comparison, the much-heralded Thunder Horse find in the Gulf of Mexico has reserves of about one billion barrels.