Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Venezuela casts shadow over Guyana’s bright oil future
But 1m b/d production could be just a few years away if geopolitical risks subside
Eco Atlantic sees promise on the frontiers
The independent tells Petroleum Economist it sees further opportunities in Guyana, South Africa and Namibia
Mozambique upstream progress defies unrest
The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north
ExxonMobil takes a chance on India’s upstream
The major’s involvement is a win for New Delhi as it seeks to promote offshore exploration
US politicians up windfall tax rhetoric ante
Surging downstream profits add fuel to the fire, but the spectre of demand destruction lurks
TotalEnergies targets 2027 startup for Papua LNG
Close collaboration between IOCs in Papua New Guinea means other developments may follow
ExxonMobil signs up for LNG from Next Decade
The deal continues the trend of developers making long-term agreements to start in the second half of this decade and is another milestone for the Rio Grande project
Guyana yields more discoveries
Two more finds have been made at the upstream frontier’s prolific Stabroek block
Paper progress only in Iraq
Oil Ministry claims around key IOC investments ignore its lame duck status
More IOCs jump on board Qatar’s new LNG trains
QatarEnergy has doled out another 12.5pc of NFE equity
Guyana ExxonMobil
Justin Jacobs
2 November 2017
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

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
Iraq’s tangled Ceyhan oil web
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
Countdown to Mozambique LNG restart
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search