ExxonMobil said on Tuesday it had made its 18 th oil discovery offshore Guyana, which adds to its previous estimate of more than 8 billion barrels of discovered recoverable resources in the area. In less than five years, Exxon and its partners in the Stabroek Block – Hess Corporation and a unit of China National Offshore Oil Corporation (CNOOC) –made more than a dozen quality discoveries on the block, making Guyana the newest oil-producing nation in December 2019. Earlier this year, Exxon revised upward its estimate of recoverable resources offshore Guyana by 2 billion barrels of oil equivalent to 8 billion oil-equivalent barrels , as it announced its 16 th oil discovery on the Stabroek Block. The recoverable resource base of 8 billion oil-equivalent barrels includes the fifteen previous discoveries that ExxonMobil and its partners had made offshore Guyana until the end of 2019. The new discovery, at the […]