The deeply impoverished former English colony of Guyana has become one of the world’s hottest offshore drilling locations. Global energy supermajors have made a slew of major oil discoveries in Guyana’s and neighboring Suriname’s offshore waters, notably in the 6.6-million-acre Stabroek Block in which global energy supermajor Exxon (1.92%) has a 45% interest with 30% and 25% held by Hess (-1.97%) and CNOOC (1.73%) respectively. By April 2021 Exxon (1.92%) had calculated that it had nine billion barrels of recoverable oil equivalent resources in the Stabroek Block. The integrated energy supermajor expects to be pumping more than 750,000 barrels daily from the block by 2026. Those numbers underscore the scale of the asset and its considerable potential. Exxon (1.92%)’s latest announcement demonstrates that Stabroek Block is delivering considerable returns for the global energy supermajor. Earlier this month the integrated energy company announced its second oil discovery for 2021 at […]