Exxon has made 18 commercial discoveries out of 22 exploration wells drilled in Guyana - Panorama Insurance Brokers

Exxon has made 18 commercial discoveries out of 22 exploration wells drilled in Guyana

The success rate for finding commercial quantities of hydrocarbons offshore Guyana remains one of the highest in the oil and gas industry. Supported by state-of-the-art technology and highly trained geoscientists, U.S oil major ExxonMobil has had a remarkably good run so far offshore the South American country. But this has not come without disappointments.

The journey began in 2015 when after decades of unsuccessful attempts to find hydrocarbons and over 40 wells drilled, ExxonMobil hit pay at Liza-1 in the Stabroek block, and subsequently confirmed the presence of an estimated 800 million to 1.4 billion barrels of oil equivalent resources.

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