Guyana’s burgeoning oil sector continues to advance
Two fresh discoveries and further developments are helping to cement the frontier province’s leading status
ExxonMobil has announced two further oil discoveries in the Stabroek block offshore Guyana, which will add to the previous recoverable resource estimate of 10bn bl oe. And there are developments in the country beyond Stabroek. The discoveries at Fangtooth and Lau Lau are a positive result that “supports [our] strategy to test deeper exploration targets within the Stabroek block”, ExxonMobil says. The latest discoveries—which bring Stabroek’s total to at least 28—bolster “our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to ten development projects”, says Mike Cousins, senior vice-president of exploration and new v
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them