ExxonMobil Announces Fifth Discovery Offshore Guyana

  ExxonMobil Announces Fifth Discovery Offshore Guyana

  * Well encounters a reservoir of 75 feet of high-quality, oil-bearing
  * Turbot-1 well located approximately 30 miles from Liza phase one project
  * Another Turbot well is being planned for 2018

Business Wire

IRVING, Texas -- October 5, 2017

Exxon Mobil Corporation (NYSE:XOM) today announced it made a fifth new oil
discovery after drilling the Turbot-1 well offshore Guyana.

Turbot is ExxonMobil’s latest discovery to date in the country, adding to
previous discoveries at Liza, Payara, Snoek and Liza Deep. Following
completion of the Turbot-1 well, the Stena Carron drillship will move to the
Ranger prospect. An additional well on the Turbot discovery is being planned
for 2018.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began
drilling the Turbot-1 well on Aug. 14, 2017 and encountered a reservoir of 75
feet (23 meters) of high-quality, oil-bearing sandstone in the primary
objective. The well was safely drilled to 18,445 feet (5,622 meters) in 5,912
feet (1,802 meters) of water on Sept. 29, 2017. The Turbot-1 well is located
in the southeastern portion of the Stabroek Block, approximately 30 miles (50
kilometers) to the southeast of the Liza phase one project.

“The results from this latest well further illustrate the tremendous potential
we see from our exploration activities offshore Guyana,” said Steve Greenlee,
president of ExxonMobil Exploration Company. “ExxonMobil, along with its
partners, will continue to further evaluate opportunities on the Stabroek

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

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company,
uses technology and innovation to help meet the world’s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the largest
refiner and marketer of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit www.exxonmobil.com or
follow us on Twitter www.twitter.com/exxonmobil.

CAUTIONARY STATEMENT: Statements of future events or conditions in this
release are forward-looking statements. Actual future results, including
project plans and schedules and resource recoveries could differ materially
due to changes in market conditions affecting the oil and gas industry or
long-term oil and gas price levels; political or regulatory developments;
reservoir performance; the outcome of future exploration and development
efforts; technical or operating factors; the outcome of future commercial
negotiations; and other factors.

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