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2026
No significant news in 2026.
2025
Aug 2025: ExxonMobil (operator, 45%), Hess (30%) and CNOOC (25%) started oil production at Yellowtail, the 4th field in the deep water Stabroek block. One Guyana FPSO, with an average production of 250,000 bbls of oil per day and storage capacity of 2 Mmbbls, joins the Destiny, Unity, and Prosperity FPSOs to bring installed capacity in Guyana to more than 900,000 bbls of oil per day.
2024
Apr 2024: ExxonMobil made an FID for the US$12.7bn Whiptail field, the 6th project in the Stabroek block. It will add about 250,000 bbls per day capacity by the end of 2027 and will include up to 10 drill centres with 48 production and injection wells connected to the Jaguar FPSO in 1,630m of water.
Mar 2024: ExxonMobil made an oil discovery at the Bluefin-1 well in the Stabroek block, encountering`60m of hydrocarbon-bearing sandstone in 1,294m of water. The well is 8.5 kms SE of Sailfin-1 in the SE of the block. It joins over 30 already made on the Stabroek Block since 2015.
2023
Nov 2023: ExxonMobil (operater, 45%), Hess (30%) and CNOOC (25%) started production at the Payara field in the Stabroek Block. The Prosperity FPSO is expected to reach 220,000 bbls of oil per day in 2024. Six FPSOs will be in operation on the Stabroek block by the end of 2027.
Jul 2023: ExxonMobil will start a 35-well exploration and appraisal drilling campaign on the Stabroek block. Work is scheduled from Q3 2023 through to 2028.
May 2023: CGX Energy (operator, 32%) and Frontera Energy (68%) announced that the Wei-1 well on the Corentyne block, 200 kms offshore from Georgetown, encountered light oil in formations of Maastrichtian and Campanian ages. Wei is 14 kms west of the Kawa discovery in 583m of water.
Apr 2023: ExxonMobil have made an FID on Uaru, its 5th project in the Stabroek Block. It will cost US$12.7bn and add 250,000 bbls per day from 2026. There are two FPSOs producing around 375,000 bbls per day in the block currently. A 3rd project, Payara, is due in Q4 adding 220,000 bbls per day. Yellowtail will start in 2025 followed by Whiptail after Uaru.
Apr 2023: ExxonMobil has made the Lancetfish-1 well discovery on the Stabroek block, encountering 28m of oil bearing sandstones. The well was drilled in 1,781m of water SE of the Fangtooth discovery.
Jan 2023: ExxonMobil (operator, 45%), Hess (30%) and CNOOC (25%) made the Fangtooth SE-1 oil discovery at the Stabroek block in 1,645m of water SE of the Fangtooth-1 well. Further appraisal activities are underway.
2022
Nov 2022: The Ministry of Natural Resources announced that 14 blocks will be auctioned in a 1st oil and gas licensing round with improved fiscal terms to that of the Stabroek Block. Of the blocks 11 are in shallow water with the remaining 3 in ultra deepwater. The licensing round is expected last for 5 months and should be concluded by the end of the Q1 2023.
Oct 2022: ExxonMobil made 2022’s 8th and 9th finds on the Stabroek Block. The Yarrow-1 well, in 1,085m of water, encountered 23m of oil-bearing sandstones SE of the Barreleye-1 discovery. The Sailfin-1 well, in 1,350m of water, encountered 95m of hydrocarbon-bearing sandstones reservoirs SE of the Turbot-1 discovery. However, the Banjo-1 well was dry.
Jul 2022: Subsea 7 and Van Oord will jointly engineer and install the 190km subsea pipeline for Exxon Mobil’s offshore Gas to Energy project in the Stabroek Block. The pipeline will make landfall west of the Demerara River.
Jul 2022: ExxonMobil has made 2 more discoveries in the Stabroek Block Seabob-1 and Kiru Kiru-1, in 1,421m and 1,756m of water respectively. They are the 6th and 7th finds made this year. The wells were drilled SE of the Liza and Payara fields, adding to the previous recoverable resource estimate of 11 bn bbls of oil equivalent in the block.
Apr 2022: ExxonMobil has made 3 further discoveries and increased its estimate of the recoverable resource for the Stabroek Block to 11 bn bblsoe. The Barreleye-1 well was drilled in 1,170m of water, Patwa-1 in 1,925m of water and the Lukanani-1 in 1,240m of water.
Apr 2022: ExxonMobil has sanctioned its 4th and largest oil development on the Stabroek Block. The Yellowtail field is expected to produce up to 250,000 bbls of oil per day from 2025 using the One Guyana FPSO to develop 925 mm bbls of reserves. Six drill centres are planned with 26 production wells and 25 injection wells.
Feb 2022: ExxonMobil (operator, 45%), Hess (30%) and CNOOC (25%) began production from the 2nd phase of the Liza project on the Stabroek Block. Production at the Liza Unity FPSO, in 1,650m of water, is expected to reach 220,000 bbls per day in 2022. The Stabroek Block’s recoverable resource base is more than 10 bn bbls. Four FPSOs, with a capacity of more than 800,000 bbls per day, will be in operation by 2026.
Jan 2022: CGX Energy and Frontera Energy announced a discovery at the Kawa-1 well in the north of the offshore Corentyne Block. The well encountered 54m of reservoirs in Maastrichtian, Campanian and Santonian horizons similar to those in the Stabroek Block. A 2nd commitment well, Wei-1, in the NW part of the Corentyne block will be drilled in H2 2022.
Jan 2022: ExxonMobil announced 2 oil discoveries in the Stabroek block. The Fangtooth-1 well drilled 50m of oil-bearing sandstone reservoirs in 1,838m of water, 18 kims NW of the Liza field. The Lau Lau-1 well drilled approximately 96m of hydrocarbon-bearing sandstone reservoirs in 1,461m of water, 68kms SE of the Liza field.
2021
Nov 2021: An FPSO vessel will be used for ExxonMobil’s Yellowtail development project with first oil expected in 2025. The FPSO will be designed to produce up to 250,000 bbls of oil per day in a water depth of around 1,800m. Yellowtail (along with Redtail) is the 4th project in the Stabroek Block and will include 51 vertical subsea wells and 12 manifolds.
Oct 21: ExxonMobil increased its estimate of the discovered recoverable resource in the Stabroek Block to 10 bnbblsoe. A new discovery has also been made at the Cataback-1 well which encountered 74m of net pay in sandstone reservoirs 6 kms east of Turbot-1. It was drilled in 1,807m of water.
Sep 2021: Keppel O&M delivered the Liza Unity FPSO to SBM Offshore. It is the 2nd FPSO for the Liza field in the Stabroek block and is designed to produce 220,000 bbls of oil per day, with gas treatment and water injection capacity. Keppel have also commenced work on a 3rd unit, Prosperity.
Sep 2021: ExxonMobil has made a 20th discovery in the Stabroek Block at the Pinktail-1 well, encountering 67m of net pay in high-quality sandstone reservoirs in 1810m of water. It has also found oil in the Turbot-2 appraisal well in 1765m of water and anticipates at least 6 projects online by 2027.
Jul 2021: ExxonMobil made an oil discovery at the Whiptail-1 and -2 wells in the Stabroek Block encountering up to 75m of net pay in sandstone reservoirs. Whiptail is located 6 kms SE of the Uaru-1 discovery in 1890m of water. The Liza Destiny FPSO vessel is currently producing around 120,000 bbls of oil per day.
Apr 2021: ExxonMobil (operator, 45%) made an oil discovery with the Uaru-2 well in the Stabroek Block. Drilling encountered 37 metres of oil-bearing reservoirs in 1,725m of water 11 kms south of Uaru-1, the 16th discovery in the Block made in January 2020. ExxonMobil anticipates at least 6 projects online by 2027 using up to 10 FPSOs.
2020
Sep 2020: ExxonMobil made an FID to proceed with the Payara field offshore development after receiving government approval. Payara is the 3rd project in the Stabroek Block and is expected to produce up to 220,000 bbls of oil per day after startup in 2024 using the Prosperity FPSO and up to 41 wells (20 production and 21 injection).
Sep 2020: ExxonMobil (operator, 45%), Hess (30%) and CNOOC (25%) made an 18th offshore discovery at the Redtail-1 well near Yellowtail on the Stabroek Block. The well encountered 70m of oil-bearing sandstone in 1,878m of water. In addition the Yellowtail-2 appraisal encountered 21m of net pay in new reservoirs within the Yellowtail field.
Jun 2020: Exxon Mobil has reduced output at the Liza field due to problems with gas re-injection equipment and the need to avoid excessive gas flaring. Production has fallen to 25,000-30,000 bbls per day. Output was expected to reach 120,000 bbls per day and there are no plans yet for a gas pipeline.
April 2020: ExxonMobil said that operations on the Liza Destiny FPSO are unaffected by the COVID-19 pandemic and oil price decline. Startup of the 2nd phase of Liza field development remains on target for 2022. However, some 2020 activity, including Payara, is being deferred for up to a year.
Jan 2020: ExxonMobil (operator, 45%) made a 16th discovery in the Stabroek block with the Uaru-1 well in 1,933 m of water. It encountered 29 m of oil-bearing sandstones 16 kms NE of the Liza field. Four drillships continue to explore and appraise as well as develop resources with a 5th expected to be deployed later in 2020.
Jan 2020: Repsol (operator) and Tullow (37.5%), have found 27°API oil in the offshore Carapa-1 exploration well within the Kanuku license in 68m of water. However, only 4m of net oil pay in Upper Cretaceous sandstone reservoirs has been identified. Knuku lies south of the Tullow-operated Orinduik Block.
2019
Dec 2019: ExxonMobil has made a 15th oil discovery in the Stabroek Block at the Mako-1 well, southeast of the Liza field in 1,620m of water. The company’s drilling activities continue with 4 drillships to further explore and appraise new resources as well as develop the resources.
Dec 2019: ExxonMobil (operator, 45%), with Hess (30%) and CNOOC (25%) started production from the Liza field in the Stabroek Block. Liza Destiny FPSO is being used for Phase 1 which is expected to reach 120,000 bbls of oil per day in 2020 from 17 subsea wells in 4 drill centres. FPSO Liza Unity, with a capacity of 220,000 bbls of per day, will be used in Phase 2. By 2025 at least 5 FPSOs will produce over 750,000 bbls per day from the Block.
Nov 2019: Samples from the Jethro and Joe discovery wells show that both fields contain heavy oil with a high sulphur content. However, the oil is mobile and the reservoir is high quality porous sandstones. Commerciality is being assessed. Both structures were drilled on the far north of the Orinduik Block.
Sep 2019: ExxonMobil (operator, 45%), Hess (30%) and CNOOC (25%) have made their 14th oil discovery on the Stabroek Block at the Tripletail-1 well in the Turbot area. Tripletail-1 encountered a 33m high-quality oil bearing sandstone reservoir in 2,003m of water. The Turbot area will be a major development hub after Liza and Payara.
Sep 2019: Tullow (operator, 60%), with Total (25%) and Eco (Atlantic) (15%), announced that the Joe-1 exploration well in the Orinduick Block at a water depth of 780m discovered 14m of net oil pay in sandstones of Upper Tertiary age.
Aug 2019: Tullow (operator, 60%), Total (25%) and Eco (Atlantic) (15%) report that the Jethro-1 well is the first discovery on the Orinduik license, encountering 55m of net oil pay in 1,350m of water. Tullow will now spud the Joe prospect and then the Carapa 1 on the Repsol-operated Kanuku license. Qatar Petroleum will farm-in to both Orinduik and Kanuku, taking a share of Total’s interest.
May 2019: ExxonMobil has funded the US$6bn Liza Phase 2 project after government and regulatory approval. It will produce up to 220,000 bbls of oil per day while the Stabroek Block could be producing more than 750,000 bbls per day by 2025. Six drill centres and 30 wells are planned with startup expected in 2022.
Apr 2019: ExxonMobil made an oil discovery at the Yellowtail-1 well; the 13th on the Stabroek Block and 5th in the Turbot area which will become a development hub. It drilled 89m of oil bearing sandstones in 1,843m of water 10 kms NW of the Tilapia discovery. ExxonMobil may add a 4th drillship to the region. Startup of Liza Phase 1 is due in 2020.
Feb 2019: ExxonMobil (operator, 45%), with partners Hess (30%) and CNOOC (25%), have made 2 more discoveries on the Stabroek block. They found oil in Tilapia-1, the 4th discovery in the Turbot area in 1,783m of water, and gas/condensate in Haimara-1 in 1,399 m of water 31 kms east of the Pluma-1 discovery.
Jan 2018: ExxonMobil (operator, 45%) has begun drilling the offshore Haimara-1 exploration well in the southeast of the Stabroek Block in the Turbot discovery area. ExxonMobil is also progressing the Liza Phase 1 development with expected startup in early 2020 from the Liza Destiny FPSO. Potential exists for at least 5 FPSOs on the Block.
2018
Dec 2018: ExxonMobil (operator, 45%) has made a 10th offshore discovery in the Stabroek Block. The Pluma-1 well penetrated 37 m of oil-bearing Upper Cretaceous sandstones reservoir 27 kms south of the Turbot-1 well in a water depth of 1,018 m. The drillship will now move to the Tilapia-1 prospect west of Longtail-1. Partners are Hess (30%) and CNOOC Nexen (25%).
Aug 2018: ExxonMobil (operator, 55%), with Hess (30%) and CNOOC Nexen (25%), made a 9th oil discovery in Hammerhead-1, 21kms SE of Liza in the SE of the Stabroek Block in 1,150m of water, drilled by the Stena Carron drillship. A total of 4bn bbls of recoverable oil are estimated to have been discovered. Up to 5 FPSOs could produce more than 750,000 bbls per day by 2025.
June 2018: ExxonMobil (operator, 55%), with Hess (30%) and CNOOC Nexen (25%), made an 8th oil discovery in Longtail-1 in the SE of the Stabroek Block in 1,940m of water. It is close to Turbot, SE of the Liza field. A 3rd drillship will be introduced to drill other prospects whilst the first is development drilling for Liza Phase 1. The Payara development is planned to follow Liza Phase 2.
June 2018: ExxonMobil has begun drilling 17 wells in its Liza Phase 1 offshore development. Phase 1 involves conversion of an oil tanker into an FPSO along with 4 subsea drill centres. A second FPSO is planned for Phase 2 and a third is under consideration for the Payara field which together will produce more than 500,000 bbls of oil per day.
Apr 2018: ExxonMobil announced that the Soribrum-1 exploration well is a dry hole, the second dry hole out of 8 wells at the Stabroek Block (the first was Skipjack-10). The Bob Douglas drillship will now begin drilling Liza Phase 1 wells whilst the Stena Carron drillship will explore other areas of the block. It is currently drilling Liza-5.
Feb 2018: ExxonMobil (operator, 45%) and Hess (30%) and CNOOC Nexen (25%) have made their 7th offshore oil discovery at the Pacora-1 well in the Stabroek Block, encountering 20 meters of oil-bearing sandstone in 2,037m of water. After the Pacora-1 completion, the drillship Stena Carron will move to the Liza field to drill the Liza-5 well.
Feb 2018: Total agreed to acquire interests in 2 exploration licenses; the deep water Canje Block (35%) and the shallow water Kanuku Block (25%), after entering into an option agreement for the nearby Orinduik Block.
Jan 2018: ExxonMobil (operator, 45%) announced a 6th oil discovery since 2015 in the Ranger-1 well at a water depth of 2,735m within the Stabroek Block adding to Liza, Payara, Snoek, Liza Deep and Turbot. The well was spudded in Nov 2017 and encountered 70 m of carbonate reservoir. The drillship will now move to the Pacora prospect. Partners are Hess (30%) and CNOOC Nexen (25%).
2017
Oct 2017: ExxonMobil (operator, 45%) announced it a 5th new oil discovery in the Turbot-1 well in 1,802m of water in the southeast Stabroek Block adding to previous discoveries at Liza, Payara, Snoek and Liza Deep. The drillship will now move to the Ranger prospect with an appraisal well on Turbot due in 2018. Partners are Hess (30%) and CNOOC Nexen (25%).
Jul 2017: ExxonMobil’s Payara-2 appraisal well in 2135m of water has discovered oil, increasing the estimated recoverable resources in the Stabroek Block including the adjacent satellite discoveries at Snoek and Liza. Esso is operator with 45% along with Hess (30%) and CNOOC Nexen (25%).
May 2017: Exxon will proceed with the Liza development in the Stabroek Block at a water depth of around 1,800m. The Liza field (including Payara and Snoek) is an FPSO/subsea development and Saipem will perform engineering, procurement, construction, and installation of the risers, flow lines, and associated structures. Production is planned for 2020 at up to 120,000 bbls per day.
Mar 2017: Exxon Mobil (operator, 45%) discovered oil in the Snoek-1 well in 1,563m of water on the Stabroek Block in reservoirs of similar age to those encountered in Liza and Payara. The well is located in the southern part of the Block, 8 kms southeast of the Liza-1 discovery. The drillship will now drill Liza-4. Partners are Hess (30%) and CNOOC (25%).
Jan 2017: ExxonMobil discovered oil in its Payara-1 well in 2,030 m of water northwest of the Liza discovery. The Payara field is estimated to hold between 100 and 150 mm bbls of oil equivalent.
2016
Dec 2016: ExxonMobil has awarded a contract to SBM Offshore to supply an FPSO unit for Liza and, subject to an FID in 2017, will construct, install and operate the vessel around 200 kms offshore. Guyana. Esso is operator with 45% along with Hess (30%) and CNOOC Nexen (25%).
Nov 2016: ExxonMobil has declared the Liza oil discovery in the offshore Stabroek block to be commercial.
Oct 2016: The Esso-operated Liza-3 appraisal well in the offshore Stabroek Block was completed successfully, confirming a large oil discovery. Estimated recoverable resources are at the top end of the 800 mm to 1.4 bn bbls oil equivalent range. Esso holds 45% in the block, along with Hess (30%) and CNOOC Nexen (25%). They also completed the nearby Skipjack exploration well as a dry hole.
Jun 2016: - ExxonMobil (operator, 45%) said that results from the Liza-2 well, the second in the Stabroek Block, confirm a major oil discovery. Liza-2 was drilled approximately 3 kms from the Liza-1 well. Partners are Hess (30%) and and CNOOC Nexen (25%).
Jan 2016: ExxonMobil plans to drill its second well on the Stabroek block in the first quarter of 2016. It has been reported that ExxonMobil, with partners Hess and CNOOC, would start a 4-well drilling campaign on the Stabroek block.
2015
Oct 2015: ExxonMobil is moving the Liza discovery into a pre-FEED stage. A leased FPSO option may be favoured to develop reserves estimated at up to 600 mm bbls.
May 2015: ExxonMobil (operator, 45%), with Hess (30%) and CNOOC (25%), discovered oil in the deep water Liza-1 well. The discovery is located in the Stabroek Block off a border region that is claimed by Venezuela. Exxon is evaluating commercial viability.
Mar 2015: ExxonMobil has started drilling the Liza-1 well in 1,750m of water in the Stabroek Block. The area lies off a border region claimed by Venezuela (the Essequibo area). Exxon signed an agreement with Guyana to explore the block in 1999.
2014
Jun 2014: CGX has given an update on its assets. In the Corentyne Block, available for farm-out, reprocessing and merging of seismic surveys is complete. The company has procured the use of the Hakuryu jack-up for a well in 2015. An extension on the spud date on the first commitment well has been agreed to Oct 31, 2015. In the Demerara Block a seismic survey is planned.
2013
Dec 2013: RWE Dea is to farm-in to the Kanuku licence operated by Repsol in the Guyana-Suriname Basin. RWE Dea will acquire 30%, Repsol will retain 40%, along with Tullow Oil (30%). The licence covers an area of 6,525 sq kms in water depths ranging up to 200m. Acquisition of seismic data was completed in December.
Jul 2013: Tullow Oil reported that it has reached agreement with Repsol to secure a 30% interest in the newly defined Kanuku Block, offshore Guyana. This follows expiry of the Georgetown licence in 2012 after the early termination of the Jaguar-1 well. The new agreement requires a 3D seismic programme to be acquired before the end of the initial 2.5 year period.
South America
