South America’s latest oil-producing nation, the former British colony of Guyana, is continuing to lay the groundwork for its oil boom. In 2015, global energy supermajor ExxonMobil, which is the operator holding a 45% working interest, and partners Hess with 30% and CNOOC holding 25%, made their first discovery in offshore Guyana in the 6.6-million-acre Stabroek Block. The Exxon-led consortium then went on to make a swath of high-quality oil discoveries with the latest occurring in April 2022. Exxon found oil with the Barreleye-1, Patwa-1,…
