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ExxonMobil makes another major oil discovery offshore Guyana

Published:Friday | October 28, 2016 | 10:25 AM

An American oil giant, ExxonMobil has discovered more oil offshore Guyana as it continues its exploration.

ExxonMobil has not given a resource estimate for the amount of gas in the find but says the reservoir has a very healthy gas-to-oil ratio that should aid in oil production.

Exxon says finding oil is a world-class discovery with a recoverable resource of between US$800 million and 1.4 billion oil-equivalent barrels.