ExxonMobil makes fresh Guyana discovery

The fledgling Latin American producer’s upstream reputation builds as firm announces yet another find

Guyanese offshore success in recent years has become almost synonymous with US giant ExxonMobil—the hot streak of oil discoveries achieved in the country’s waters has added 15 major finds to the firm’s roster and c.6bn bl oe in recoverable reserves. Momentum was further buoyed by the arrival of first oil from the Liza project in December—ahead of schedule and less than five years since the company’s breakthrough find. But the rapid pace of ExxonMobil’s exploration success in the emerging province is showing little sign of slowing. The firm has now announced a 16th major discovery in the prolific Stabroek block—ownership split between operator ExxonMobil (45pc), US independent Hess (30pc) and