ExxonMobil Guyana has discovered more oil offshore Guyana after another major exploration campaign and exercise.
The discovery was made in the Pacora-1 Well offshore.
This announcement was made this afternoon by Minister of Natural Resources, Raphael Trotman after today’s Cabinet meeting, according to the Department of Public Information (DPI).
The Pacore-1 drill site is 107 miles from the coast of Guyana and covers an area of one square kilometer.
The oil find now represents the seventh major find by Exxon since May 2015. The Pacora-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep, Turbot and Ranger-1, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.