Guyana keeps the oil finds flowing
Latin America’s latest crude producer again proves its status as a world-class petroleum province
The Stabroek block offshore Guyana is the gift that keeps on giving for joint venture partners ExxonMobil, US independent Hess and Chinese state-controlled Cnooc. Less than two months after drilling success at the Whiptail prospect, the consortium has added another major discovery further south at the Pinktail exploration well. The discovery is the 20th major offshore find in the Stabroek block and pushes its recoverable resource base beyond 9bn bl oe. “Our exploration successes continue to increase the discovered resource and will generate value for both the Guyanese people and our shareholders,” says Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. An

Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market