With oil prices quickly approaching $100 per barrel, operators are taking exploration risks to increase their reserves, and no region in the world is currently offering a higher payback than Guyana and Suriname.

US supermajor ExxonMobil is spearheading activities offshore Guyana with an impressive track record on the Stabroek block, where more than 10 billion barrels of oil equivalent in recoverable resources have been encountered.

“The Stabroek joint venture delivered three potentially commercial discoveries in 2021 at Whiptail, Pinktail and Cataback, and already in 2022 announced further discoveries at Lau Lau and Fangtooth,” says Jamie Collard, senior analyst at UK-based advisory Westwood Global Energy Group.