ExxonMobil Guyana makes discovery at Lancetfish-1

• Marks the ExxonMobil-led consortium’s second discovery of 2023
• Reinforces Stabroek block’s continued exploration potential  
• More than 5,000 Guyanese now employed supporting operations

The Lancetfish-1 well encountered approximately 92 feet (28 meters) of oil-bearing sandstone. The well was drilled in 5,843 feet (1,780 meters) of water and is located southeast of the Fangtooth-1 discovery.

“Initial results from the Lancetfish-1 well are encouraging and demonstrate the Stabroek block’s continued exploration potential,” said Alistair Routledge, president of ExxonMobil Guyana. “We continue to increase our understanding of Guyana’s offshore resources with each new discovery.”

Lancetfish-1 was drilled by the Noble Don Taylor, one of six drillships supporting ExxonMobil Guyana’s exploration and appraisal activities offshore Guyana. It is the second discovery this year, joining the Fangtooth-SE-1 discovery that was announced in late January.

Separately, progress continues on infrastructure for future field development. The Prosperity Floating, Production, Storage and Offloading (FPSO) vessel arrived in Guyanese waters on April 11 and is targeted for production start-up later this year. It will join the Liza Destiny and Liza Unity FPSOs, which together produced 375,000 barrels a day in the first quarter of 2023.  

These new projects continue to drive investment in Guyana’s growing economy. More than 5,000 Guyanese are now employed in supporting activities in the country. ExxonMobil Guyana and its key contractors are also utilising the services of nearly 1,000 unique local Guyanese suppliers.  

The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.