With nearly 11 billion barrels of oil equivalent discovered since 2015, ExxonMobil is looking to further increase these volumes at its largest deepwater license offshore Guyana.
The US oil major is targeting a new prospect – Yarrow-1 – located approximately 92 nautical miles (170.4 kilometers) offshore, covering an area of 0.29 square nautical miles (1 square kilometer).
The well is located at the Stabroek Block, the most prolific deepwater acreage in the Guyana-Suriname basin, where experts say discoveries could double the volumes already found so far.
In just seven years Guyana has moved from a frontier area to South America’s hottest new oil province and emerging energy hub.
Since 2017, the region has seen close to 14.5 billion barrels of discovered resources of which Guyana accounts for 65%, followed by Suriname with 15%.
Six drill ships are involved in a combination of exploration and development operations off the Guyana coast.