Latest update February 18th, 2025 1:40 PM
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ExxonMobil aiming for discovery of more oil at Hamlet-1 site
Kaieteur News- ExxonMobil Guyana Limited (EMGL), the operator of the oil-rich Stabroek Block, will be targeting at least one more discovery this year to augment the 11 billion barrels of resources already discovered there.
This was revealed by EMGL President, Alistair Routledge during a press conference on Wednesday. According to him, the company is still finalizing its exploration options for the year. He explained, “We drilled some large exploration wells last year, we are digesting the results of those. In the meantime we have identified one exploration well that we are progressing the approvals for with the government and the EPA (Environmental Protection Agency).”
President, EMGL, Alistair Routledge
“That well will be called Hamlet- the Hamlet One well. That’s actually looking for an oil play in the southeast portion of the Stabroek Block,” Routledge added.
To date, ExxonMobil has made 46 discoveries in the 6.6 million acres block, as pointed out by Finance Minister, Dr. Ashni Singh in his 2025 Budget presentation. In 2024, some five new discoveries were announced by the oil company.
Exxon said it will continue its exploration programme this year, targeting wells with attractive prospects. Routledge noted, “We still have an active programme. I don’t know what the final number of exploration (and) appraisal wells will be this year because it depends also on the results of the wells that we drilled late last year and we are going through and assessing what the targets are that we’d like to pursue and also the licensing process that we go through with the ministry and the EPA.”
Of the 46 discoveries announced so far, Exxon has received regulatory approvals to develop six projects. These include, Liza One, Liza Two, Payara, Yellowtail, Uaru and Whiptail. The first three projects are already in operation, producing an average 650,000 bpd, which is likely to be increased before the end of this year with the startup of the fourth development, Yellowtail.
In the meantime, the company is in the process of seeking an environmental permit for a seventh project, Hammerhead. An Environmental Impact Assessment (EIA) for the development has been handed over to the EPA. More recently, Exxon made an application to the regulator for an eight project, to develop the resources at the Longtail site. The oil giant is aiming to increase Guyana’s daily rate of production to 1.2 million barrels of oil by 2027.
(ExxonMobil aiming for discovery of more oil at Hamlet-1 site)
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