ExxonMobil announces Redtail discovery offshore Guyana

ExxonMobil has made its 18th discovery offshore Guyana at the Redtail-1 well, which will add to the previously announced estimated recoverable resource of more than 8bn boe on the Stabroek block.

ExxonMobil made the first commercial discovery in Guyana in 2015 and started production in December 2019 from the Liza Destiny floating production and offloading vessel (FPSO), which can produce up to 120,000 b/d. The company continues to advance the Liza Phase 2 project, which is expected to start up in 2022 and produce up to 220,000 b/d. Construction activities are underway in Singapore on the Liza Unity FPSO. A third production vessel for the Payara development, with production capacity of 220,000 b/d, is on hold pending government approval.

ExxonMobil holds a 45% stake in the Stabroek block, acting as operator, and is partnered by Hess (30%) and CNOOC (25%).