Editorial

Guyana delivered 2.6 billion boe in 2023 compared to 3.4 billion last year

  • Posted 2 months ago
  • Oil & Gas

Twenty-twenty two was hailed as the most successful year for exploration in Guyana’s history, marked by a total of nine discoveries in the Stabroek Block and a significant find in the Corentyne Block. This year, the pace has slowed down somewhat, although several discoveries have added to the cumulative potential of Guyana’s offshore oil reserves.

According to data from S&P Global, approximately 3.4 billion barrels of oil equivalent were yielded from 2022 discoveries in Guyana, a figure that declined to just over 800 million barrels of oil equivalent in 2023.

In January, Hess announced the Fangtooth SE-1 discovery, revealing approximately 200 feet of oil-bearing sandstone reservoirs. This further contributed to the estimated gross discovered recoverable resource at the ExxonMobil-operated Stabroek Block, which stands at 11 billion barrels.

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