Rystad: Exxon’s Guyana finds push oil & gas discoveries to four-year high in 2019

The world’s oil and gas explorers have discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates by energy intelligence firm Rystad Energy.

Guyana’s success story from 2018 continued in 2019, with ExxonMobil adding four new discoveries within its offshore Stabroek block, with the last one coming in late December 2019, while Tullow Oil’s Jethro and Joe exploration wells established the presence of a working petroleum system to the west of the Stabroek block.

The intelligence company estimated that the discoveries in Guyana held cumulative recoverable resources of around 1.8 billion boe.

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