Offshore oil exploration began in the 1950s, and 9 wells were drilled between 1965 and 1970, only one of which struck oil, Abary-1 well in the Kanuku license area. In the late 1980s, Mobil, Total, Guyana Exploration and BHP continued exploration in the region.

ExxonMobil Guyana is the first and largest oil producer in Guyana, and is the operator of the Stabroek and Canje Blocks offshore. Over 30 significant discoveries have been made since May 2015, with production beginning in December 2019 from the Liza Phase 1 development.

Guyana now the third largest per-capita oil producer in the world. ExxonMobil Guyana-led consortium achieving industry-leading performance. Strong collaboration with Guyana’s public and private sectors driving country’s transformative growth.

Feb 24, 2025 · The leading global oil, gas and energy news resource. Covering the latest oil and gas news including shale, lng, drilling, exploration and production.

19 hours ago · Guyana has one of the world's fastest-growing economies thanks to rapidly rising oil output at the country's prolific offshore oilfields, which are operated by a consortium led by U.S. oil major ...

May 21, 2024 · Guyana increased crude oil production by an annual average of 98,000 b/d from 2020 to 2023, making it the third-fastest growing non-OPEC producing country during this period. Crude oil production has been the largest contributor to Guyana’s economic growth …

Oct 23, 2023 · Guyana received bids for eight out of the 14 offshore oil and gas exploration blocks that it had offered in its first auction, held in September. Here are some of the key exploration areas...

Sep 13, 2023 · The government of Guyana has opened bids for 14 offshore oil blocks available for exploration and development as the South American country seeks to ramp up oil production.

Mar 1, 2025 · GEORGETOWN, Guyana (AP) — Guyana’s President Irfaan Ali on Saturday denounced an incursion by an armed Venezuelan naval vessel in disputed waters that are home to a mammoth offshore oil deposit being developed by ExxonMobil.. In a televised address, Ali said Guyana was hurriedly notifying all of its international allies, including the Trump administration, and had summoned Venezuela’s ...

1 day ago · The eighth energy project in Guyana of a consortium led by U.S. major Exxon Mobil will produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day on condensate ...