Liza opens the door
ExxonMobil's find has opened a new frontier along South America's northeast coast
Guyana's emergence into the spotlight has been swift. In spite of its proximity to oil-and-gas rich Venezuela and Trinidad & Tobago, the tiny South American country's waters had remained almost completely unexplored until 2015. That was when ExxonMobil hit it big at the Liza field, which opened up a multi-billion-barrel frontier. Now the country is racing to first oil. ExxonMobil and its partners Hess and Cnooc-owned Nexen sanctioned the first phase of development at the Liza field in July. Guyanese oil, which is relatively light at around 32°API, is expected to start flowing by 2020, less than five years after the discovery. ExxonMobil and its partners plan to spend some $4.4bn on the i
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
