SUBSCRIBE
PROFILE

Stabroek Block: ExxonMobil announces a Promising Discovery

ExxonMobil announces two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

ExxonMobil has added the Sailfin-1 and Yarrow-1 discoveries in the Stabroek Block, offshore Guyana, to its portfolio. The company counts more than 30 discoveries on the block since 2015. In addition, it is accelerating offshore development at a rate exceeding the industry average.

ExxonMobil states that Sailfin-1 is under 1407 meters of water. The borehole encounters a hydrocarbon slick approximately 95 meters below ground. Thus the drilling is done at 1502 meters.

Yarrow-1 completes Sailfin-1, settling under 1085 meters of water, and 23 meters of sandstone. The discovery is established at 1108 meters. In addition, the drill ship is the Stena Carron.

A promising sector

ExxonMobil’s first two offshore projects in Guyana are Liza Phase 1 and Liza Phase 2. Currently, both wells are now producing above design capacity. In addition, Liza Phase 1 and 2 are averaging 360,000 barrels of oil per day in the third quarter.

A third project, Payara, is expected to start by the end of 2023. In addition, a fourth project, Yellowtail, is scheduled to start in 2025. In addition, ExxonMobil is currently seeking environmental clearance for a fifth project, Uaru.

ExxonMobil expects Guyana’s oil production capacity to exceed one million barrels per day. In addition, the Stabroek block covers 6.6 million acres, or 26,800 square kilometers. ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited, is the operator and holds 45%.

  • Popular on energynews.pro
TotalEnergies sells 40% of two Nigerian licences to Chevron in strategic deal
Ecopetrol targets 88.2 MWp with acquisition of seven solar projects in Colombia
ExxonMobil shuts down steam cracker in Singapore and redirects assets to China
Japan set to vote on partial restart of Kashiwazaki-Kariwa nuclear plant
Tullow Oil cuts board size and seeks to refinance $1.8 bn debt
La Serbie anticipe un choc économique après la mise à l’arrêt de sa raffinerie
L’arrêt de la raffinerie de Pancevo, frappée par des sanctions américaines contre ses actionnaires russes, menace les recettes fiscales, l’emploi et la stabilité énergétique de la Serbie.
Oil prices rise amid military escalation and diplomatic deadlock
Oil prices climbed, driven by Ukrainian strikes on Russian infrastructure and the lack of diplomatic progress between Moscow and Washington over the Ukraine conflict.
Chevron sets 2026 investment budget between $18 and $19 billion
Chevron has announced a capital expenditure range of $18 to $19 billion for 2026, focusing on upstream operations in the United States and high-potential international offshore projects.
South America strengthens its role in global oil supply through 2030
Brazil, Guyana, Suriname and Argentina are expected to provide a growing share of non-OPEC+ oil supply, backed by massive offshore investments and continued exploration momentum.
Venezuelan crude exports to Europe drop by 75% in 2025
The revocation of US licences limits European companies’ operations in Venezuela, triggering a collapse in crude oil imports and a reconfiguration of bilateral energy flows.
Bourbon secures five-year contract with ExxonMobil for Angola’s Block 15
Bourbon has signed an agreement with ExxonMobil for the charter of next-generation Crewboats on Angola’s Block 15, strengthening a strategic cooperation that began over 15 years ago.
Shadow fleet renews tankers to bypass sanctions and operational risks
Faced with tighter legal frameworks and reinforced sanctions, grey fleet operators are turning to 15-year-old VLCCs and scrapping older vessels to secure oil routes to Asia.
ReconAfrica identifies 64 metres of recoverable oil at Kavango West 1X well in Namibia
Reconnaissance Energy Africa completed drilling at the Kavango West 1X onshore well in Namibia, where 64 metres of net hydrocarbon pay were detected in the Otavi carbonate section.
CNOOC launches production at Weizhou 11-4 oilfield in South China Sea
CNOOC Limited has started production at the Weizhou 11-4 oilfield adjustment project and its satellite fields, targeting 16,900 barrels per day by 2026.
Shell and Equinor finalise the creation of Adura, largest independent North Sea producer
The Adura joint venture merges Shell and Equinor’s UK offshore assets, becoming the leading independent oil and gas producer in the mature North Sea basin.
Citgo shifts under Elliott control for $5.9bn pending U.S. approval
A Delaware court approved the sale of PDV Holding shares to Elliott’s Amber Energy for $5.9bn, a deal still awaiting a U.S. Treasury licence through OFAC.
Nigeria releases $100mn to accelerate local integration in the oil sector
A new $100mn fund has been launched to support Nigerian oil and gas service companies, as part of a national target to reach 70% local content by 2027.
Sanctions against Rosneft and Lukoil redirect oil flows toward Asia
Western measures targeting Rosneft and Lukoil deeply reorganise oil trade, triggering a discreet yet massive shift of Russian export routes to Asia without causing global supply disruption.
Nigeria auctions 50 oil blocks in its 2025 licensing round
The Nigerian Upstream Petroleum Regulatory Commission opens bidding for 50 exploration blocks across strategic zones to revitalise upstream investment.
Nigeria auctions 50 oil blocks in its 2025 licensing round
La Nigerian Upstream Petroleum Regulatory Commission ouvre la compétition pour 50 blocs d’exploration, répartis sur plusieurs zones stratégiques, afin de relancer les investissements dans l’amont pétrolier.
Serbia forced to shut down its only refinery after US sanctions
Serbia's only refinery, operated by NIS, has suspended production due to a shortage of crude oil, a direct consequence of US sanctions imposed on its majority Russian shareholder.
Oil prices rise amid tensions between Washington and Caracas
Crude prices increased, driven by rising tensions between the United States and Venezuela and drone attacks targeting Russian oil infrastructure in the Black Sea.
Baghdad invites US companies to replace Lukoil on West Qurna 2
The Iraqi government is inviting US oil companies to bid for control of the giant West Qurna 2 field, previously operated by Russian group Lukoil, now under US sanctions.
Two tankers targeted in the Black Sea, Ankara warns over maritime security
Two tankers under the Gambian flag were attacked in the Black Sea near Turkish shores, prompting a firm response from President Recep Tayyip Erdogan on growing risks to regional energy transport.
Harbour Energy to cut 100 offshore jobs over sustained fiscal conflict
The British producer continues to downsize its North Sea operations, citing an uncompetitive tax regime and a strategic shift towards jurisdictions offering greater regulatory stability.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.