A consortium led by ExxonMobil made its first significant oil discovery in Guyana’s offshore Stabroek Block in 2015. It announced its most recent find on October 7. It now reports reserves equivalent to 10 billion barrels of crude.
Oil money began flowing to the country’s coffers in 2020 and will continue to grow as production increases. Current estimates put full production at 750,000 barrels a day midway through this decade. Exxon is partnered with US-based Hess Exploration and China National Offshore Oil Corporation in Stabroek.
