London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

ExxonMobil makes another oil discovery offshore Guyana

April 29/2021

MOSCOW (MRC) -- ExxonMobil, the largest private US company, has made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana, reported Reuters.

Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels.

The Uaru-2 discovery enhances our work to optimally sequence development opportunities in the Stabroek Block, said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. Progressing our industry-leading investments and well-executed exploration plans are vital in order to continue to develop Guyanas offshore resources that unlock additional value for the people of Guyana and all stakeholders.

In January 2020, ExxonMobil announced that Uaru-1 was the 16th discovery in the Stabroek Block.

In March 2021, ExxonMobil secured a sixth drillship, the Noble Sam Croft, for exploration and evaluation drilling activities offshore Guyana. A fourth project, Yellowtail, has been identified within the block with anticipated start up in late 2025 pending government approvals and project sanctioning. This project will develop the Yellowtail and Redtail fields, which are located about 19 miles (30 kilometers) southeast of the Liza developments.

ExxonMobil anticipates at least six projects online by 2027 and sees potential for up to 10 FPSOs to develop its current recoverable resource balance.

The start-up of Liza Phase 2 remains on target for 2022, as the Liza Unity FPSO prepares for sail away from Singapore to Guyana later this year. The Unity FPSO has a production capacity of 220,000 barrels of oil per day at peak rates. The hull for the Prosperity FPSO vessel, the third project at the Payara Field, is complete, and topsides construction activities have commenced in Singapore with a startup target of 2024.

As MRC informed previously, Sinopec Engineering (Group) and ExxonMobil (Huizhou) Chemical (EMHCC) have just entered into a BEPC (basic design, engineering, procurement and construction) contract for the proposed Huizhou Chemical Complex Project (Phase I). The main units of the project include a 1.6 million tonnes/year ethylene flexible feed steam cracker, downstream polymer and derivative units and utilities. The main product units include two performance polyethylene (PE) lines and two differentiated performance polypropylene (PP) lines.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated polyethylene (PE) consumption totalled 356,370 tonnes in the first two month of 2021, down by 9% year on year. Shipments of exclusively low density polyethylene (LDPE) increased. At the same time, polypropylene (PP) shipments to the Russian market was 246,870 tonnes in January-February 2021, up by 30% year on year. Supply of homopolymer PP and PP block copolymers increased.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world"s oil and about 2% of the world"s energy.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, LDPE, ethylene, petrochemistry, Exxon Mobil, Sinopec, Guyana, China, Russia, Singapore.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe