ExxonMobil makes further ripples in Guyana

The South American country’s prolific upstream shows no sign of slowing as another two oil finds are added to the growing list

ExxonMobil has announced another two major oil discoveries in the Stabroek block, offshore Guyana. A well spudded at the Redtail prospect proved the presence of significant oil reserves, while further exploratory drilling at the Yellowtail discovery revealed an additional oil-bearing reservoir. The Guyana-Suriname basin has become an industry leading upstream hotspot since ExxonMobil first drilled in 2015. Total offshore discoveries in the Stabroek block have risen rapidly and now stand at 18, while estimated recoverable resources have soared to more than 8bn bl oe. “The Redtail and Yellowtail discoveries further demonstrate the significant exploration potential of the Stabroek block,” says