World Oil (WO) – According to the U.S. Energy Information Administration’s latest report, Guyana has significantly boosted its crude oil production since it began in 2019, reaching 645,000 bpd by early 2024, all from its prolific offshore region, the Stabroek block. From 2020 to 2023, Guyana’s crude oil production grew by an average of 98,000 bpd annually, making it the
Hess Announces 10th Discovery and Increased Stabroek Block Resource Estimate Offshore Guyana
In its Payara reservoir, offshore of Guyana, ExxonMobil Corp. (ticker: XOM) discovered an additional accumulation of oil. The discovery increased ExxonMobil’s estimated oil in the Payara reservoir to 500 MMBOE, and the total estimated gross recoverable resource in the Stabroek Block to between 2.25 and 2.75 BBOE. Esso Exploration and Production Guyana Limited, an affiliate company of ExxonMobil, found 59
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