- A small, largely overlooked country in South America has become the center of the world’s oil future, offering low-carbon and low-cost oil production with the potential for an output of 1 million bpd.
- Guyana’s oil and gas blocks include the Stabroek block, a 626,800 km3 offshore area controlled by Exxon, Hess and CNOOC; and the Corentyne and Demerara blocks.
- The country’s oil recovery prices are highly competitive, at an average of $28 a barrel across all projects and under $20 a barrel at producing projects, making it cheaper than oil from the Permian Basin and Russia, and similar to that of projects in the Middle East and offshore Norway.
ExxonMobil’s Big Plan for a Small South American Country
