ExxonMobil said today that development drilling had kicked off on the Liza Phase 1 development offshore Guyana.
Guyana's story shares many similarities with the story of the ugly duckling. One of the poorest countries in South America, it has historically been entirely dependent on oil imports. In the past three years though, Guyana has sprung up as one of the hottest oil spots in the region, with ExxonMobil alone accounting for seven hydrocarbon discoveries in one single exploration block, Stabroek. However, the pace of discoveries will only highlight the deficiencies of the Guyana's political system, and there remains a serious risk that these world-class finds might be jeopardized by politics, either by means of renegotiating commercial terms or by bringing legislative powers to a painful impasse. By anybody's yardstick, the achievements of ExxonMobil and its partners (Hess, CNOOC) in the Guyanese offshore block of Stabroek (6.6 million acres or 27 000km2) have surpassed expectations. Almost every exploration well adds new barrels to the already hefty 4 billion barrels of recoverable reserves found in the area, a trend that is bound to continue over the next months. So far only one exploratory well turned out to be dry (Skipjack-1), whilst the following discoveries were made:
Eco Atlantic Oil & Gas said today that the Orinduik block offshore Guyana could contain more than 1billion barrels of oil.
Dutch ship builder SBM Offshore has cut first steel on the vessel which will serve ExxonMobil’s Liza field offshore Guyana.
The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude.
ExxonMobil Corporation today announced the sixth oil discovery off the coast of Guyana since 2015 from its Ranger-1 well.
US-based Hess Corporation shedding high cost assets to fund South American exploration activity.
US major ExxonMobil said yesterday that it had found more oil in the Payara reservoir offshore Guyana.
US supermajor ExxonMobil has decided to proceed with the first phase of development of the Liza field, located offshore Guyana.
TechnipFMC will provide ExxonMobil with subsea equipment for the Liza deep water project off Guyana.
US oil giant ExxonMobil said yesterday that it had struck oil after drilling a new well offshore Guyana.
ExxonMobil said additional discoveries have been made offshore Guyana.
ExxonMobil has fast-tracked its Stabroek block project offshore Guyana.
ExxonMobil has confirmed a 'significant' oil find offshore Guyana.
A discovery in waters off the coast of Guyana is estimated to hold natural gas riches which could be up to 12 times more valuable than the country’s economy. The Liza-1 well is estimated to have more than 700 million barrels of oil and could begin producing crude by the end of the decade.
An Exxon Mobil Corp. discovery in the Atlantic Ocean off Guyana may hold oil and natural gas riches 12 times more valuable than the nation’s entire economic output. The Liza-1 well, which probably holds the equivalent of more than 700 million barrels of oil, may begin producing crude by the end of the decade, Raphael Trotman, the South American country’s minister of governance, said in an interview. The prospect would be on par with a recent Exxon find at the Hadrian formation in the Gulf of Mexico, and would be worth about $40 billion at today’s international crude price.