Guyana, located on the northern mainland of South America and nestled between Venezuela and Suriname, has become one of the most exciting regions within the oil and gas industry over the last few years. ExxonMobil has invested heavily in the region and has been reaping the rewards since first discovering oil in 2015. In the Stabroek field alone to date, the company has made 13 discoveries with an estimated recoverable resource of $5.5 billion. With the US supermajor showing no signs of slowing down, this figure is undoubtedly set to increase.
ExxonMobil is not alone in the region; Tullow oil has recently started drilling operations on the Jethro Lobe prospect on the Orinduik field. The exploration well on the Jethro Lobe prospect was spudded at 22:45 local Guyana time on July 4 this year, using the Stena Forth drillship which was mobilized from West Africa.