ExxonMobil Announces Successful Payara-2 Well Offshore Guyana

• Well encounters 59 feet of high-quality, oil-bearing sandstone
  reservoirs
• Increases total Payara resource to approximately 500 million
  oil-equivalent barrels
• Payara located only 12 miles from the Liza phase 1 project

IRVING, Texas–(BUSINESS WIRE)–Exxon
Mobil Corporation (NYSE:XOM) today announced it has discovered
additional oil in the Payara reservoir offshore Guyana, increasing the
total Payara discovery to approximately 500 million oil-equivalent
barrels.

These positive well results increase the estimated gross recoverable
resource for the Stabroek Block to between 2.25 billion oil-equivalent
barrels and 2.75 billion oil-equivalent barrels.

The well was successfully drilled by ExxonMobil affiliate Esso
Exploration and Production Guyana Limited and encountered 59 feet (18
meters) of high-quality, oil-bearing sandstone in the Payara field.

It was safely drilled to 19,068 feet (5,812 meters) in approximately
7,000 feet (2,135 meters) of water. The well is only 12 miles (20
kilometers) northwest of the recently funded Liza phase 1 project on the
Stabroek Block, which is approximately 130 miles offshore Guyana.

“Payara-2 confirms the second giant field discovered in Guyana,” said
Steve Greenlee, president of ExxonMobil Exploration Company. “Payara,
Liza and the adjacent satellite discoveries at Snoek and Liza Deep will
provide the foundation for world class oil developments and deliver
substantial benefits to Guyana. We are committed to continue to evaluate
the full potential of the Stabroek Block.”

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.

CAUTIONARY NOTE:

Statements that reference future events or conditions in this press
release are forward-looking statements. Actual future results, including
project plans and resource recoveries, may differ significantly
depending on changes in oil or gas prices and other market or economic
factors that affect the petroleum industry; the outcome of exploration
and development programs; reservoir performance; unexpected technical
difficulties or other technical or operating factors; the actions of
governmental authorities or regulatory agencies; and other factors
listed under the heading “Factors Affecting Future Results” on the
Investor page at the ExxonMobil website at www.exxonmobil.com
and in Item 1A of ExxonMobil’s most recent Form 10-K. References to
oil-equivalent barrels, recoverable resource and other quantities of oil
or gas in this release include volumes that are not yet classified as
proved reserves under SEC definitions, but that we believe will
ultimately be produced.

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