More oil found offshore Guyana at ‘Lancetfish-1’ well

Hess Corporation, one of the co-venturers in the Stabroek Block offshore Guyana, announced on Wednesday that more oil was found in that area.

“The Lancetfish-1 well encountered approximately 92 feet of oil bearing sandstone reservoir. The well was drilled in 5,843 feet of water by the Noble Don Taylor and is located approximately 4 miles southeast of the Fangtooth discovery,” Hess said in a release on its estimated results for the first quarter of 2023.

More than 30 oil discoveries have been made in the lucrative Stabroek Block offshore Guyana. Production has started here with two oil platforms, the Liza Destiny and Liza Unity, in use.

Meanwhile, Hess noted that another well, the Kokwari-1 well, was also drilled during the first quarter of 2023 but commercial quantities of hydrocarbons were not encountered.