Exxon Makes Another Major Oil Discovery Offshore Guyana

ExxonMobil and its partner Hess Corporation have made another significant crude oil discovery offshore Guyana, the U.S. supermajor said on Wednesday.

The Whiptail discovery in the Stabroek Block adds to more than a dozen discoveries on the block and the previous recoverable resource estimate of approximately 9 billion oil-equivalent barrels.

Whiptail, located southeast of Uaru and west of Yellowtail discoveries, could form the basis of another future development in the Stabroek Block, Exxon and Hess said.

“Whiptail is a significant new oil discovery that will add to the discovered recoverable resource estimate of approximately 9 billion barrels of oil equivalent and could underpin a future oil development in the southeast area of the Stabroek Block,” Hess Corporation’s CEO John Hess said in a statement.

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Source: OilPrice