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Exxon Consortium Makes Another Guyana Discovery

OIL

An ExxonMobil led consortium have made another significant discovery offshore Guyana. The Lancetfish-2 well marks the fourth offshore discovery in the country this year. The area has been the headlines a lot recently because of the deal to buy Hess for $53 billion – in part boosting acreage there.

  • Oil production from the Stabroek block, the main discovery area offshore Guyana, was inaugurated in 2019 and is expected to generate up to 1.2mn bpd by 2027.
  • Guyana oil production is expected at over 500,000 in early 2024 form zero in 2019.

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