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