Guyana—at the frontier
ExxonMobil and its partner are racing ahead with their major Liza discovery in Guyana, at Latin America's exploration frontier. Others are struggling to replicate the success
The split between winners and losers in the frontier exploration campaign off Latin America's northeast coast—focused around Guyana, Suriname and French Guiana—is becoming clearer. Indisputably on the winning side is ExxonMobil and its junior partners, Hess and China's Cnooc, in Guyana. The consortium sanctioned the first phase of development of the huge Liza discovery in June. It followed that in October with its fifth major discovery on the Stabroek Block at the Turbot-1 well, which the drillers say has opened up an entirely separate play in the area. "The Stabroek block contains a massive world-class resource that keeps getting bigger and better," John Hess, the head of his namesake compa

Also in this section
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU