Exxon Appraisal Well Discovers Large Oil, Gas Deposits in Guyana
6/27/2016
GEORGETOWN, Guyana (AP) — Officials in the South American country of Guyana say Exxon Mobil has found large deposits of oil and gas in a recently drilled appraisal well.
Energy Minister Raphael Trotman told The Associated Press on Monday that the company will drill another well in upcoming months. Officials have said Exxon Mobil previously drilled another well last year that they believe could contain at least 700 million barrels of oil.
The company’s drill site is located some 150 miles offshore from Guyana’s east coast.
British petroleum giant Tullow Oil PLC and Repsol of Spain also have been exploring the area.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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