Frontera Energy struck oil in the Corentyne Block offshore Guyana, the company said this week. “Initial results from the Kawa-1 well are positive and reinforce CGX and Frontera’s belief in the potentially transformational opportunity our investments and interests in Guyana present for our companies and the country,” said Frontera board chairman Gabriel de Alba. “Kawa-1 results add to the growing success story unfolding in offshore Guyana as the country emerges as a global oil and gas exploration hotspot,” he added. Indeed, Guyana has turned into the brightest star in the oil universe lately after Exxon and its partner Hess made a string of discoveries in the Stabroek Block, unlocking reserves of more than 10 billion barrels of crude. Since it first struck oil offshore Guyana, the U.S. supermajor has made more than 20 discoveries; the latest two announced earlier this month. “Both discoveries increase our understanding of the resource, […]