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Despite challenges Guyana emerges from 2020 as major player in oil and gas universe

Dated: January 4th, 2021

OilNow


The hull for the Liza Unity FPSO, Guyana's second oil production vessel.

2020 was another eventful year for the exploration and production activities offshore Guyana led by U.S. oil major ExxonMobil at the prolific Stabroek block. The year started with Guyana’s first oil lift, the announcement of another discovery in January at the Uaru prospect, and the upgrade in recoverable resources from around 6 billion, to an estimated 8 billion oil equivalent barrels. By the end of the year, two more discoveries would have been made, and an additional 1 billion barrels of oil added, bringing the total estimated recoverable resources to around 9 billion oil equivalent barrels.


But there were significant challenges and setbacks along the way, both on and offshore.

To read more, click here.

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