Related Articles
Forward article link
Share PDF with colleagues

New oil frontier beckons offshore Latin America

ExxonMobil’s discovery offshore Guyana has renewed hopes that a stretch of waters off Guyana, Suriname and French Guiana will emerge

More broadly, it also shows that companies are still willing to drill high-risk, high-reward exploration wells in a low oil-price environment. ExxonMobil did not release many details of the deep-water find, Liza-1, drilled in the Stabroek Block, but called it a “significant oil discovery”. The company and its minority partners in the block, Hess and China National Offshore Oil Corporation (Cnooc), say they will spend the next few months determining if the discovery is commercial and looking at nearby prospects. The companies will hope that their progress in the region goes better than Shell’s exploration campaign in neighbouring French Guiana, which started with a bang but ended with a fiz

Also in this section
Pioneer's startling Permian output-growth plans
29 March 2017
Pioneer Natural Resources' growth plans will transform the company and points to a long bull run for Texas's prolific shale play
Latest licensing rounds
29 March 2017
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
Kuwait still drilling
1 March 2017
Kuwait is plugging away in its upstream and will seek more IOC help to do so