Exxon Strikes Out at Hassa-1 Offshore Guyana


January 15, 2021
© Graham Buchan Innes / MarineTraffic.com

© Graham Buchan Innes / MarineTraffic.com

Exxon Mobil Corp said on Friday that its latest exploration well in the prolific Stabroek block off Guyana's coast did not find oil in its target area, the second setback to its drilling campaign in recent months.

Exxon, which operates the Stabroek block in a consortium with Hess Corp and China's CNOOC Ltd, has made 18 discoveries in the area totaling more than 8 billion barrels of recoverable oil and gas, making the South American country the world's newest energy hotspot.

"The Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons in the primary target reservoirs," an Exxon spokesman said in a statement, adding that the well did encounter hydrocarbons in other intervals. "We remain committed to evaluating the potential in our offshore Guyana blocks."

The disappointment at Hassa-1 comes after Exxon said in November its crude discovery at the Tanager-1 well was not financially viable on its own. The well was the first Exxon drilled in the Kaieteur block, which is adjacent to Stabroek.

Production at the Liza-1 well in the Stabroek block began in December 2019. The well is currently producing some 120,000 barrels per day.

(Reporting by Luc Cohen; Editing by Marguerita Choy)

No comments

More Popular Posts

About Crude Oil Facilitators

Crude Oil Facilitators are dedicated global brokers and facilitators of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Facilitators, click here ». To learn more about Crude Oil Facilitators, click here

Crude Oil Facilitators