Good news! More on the Peak Oil myth/scare! 😊
"Guyana's oil production has surged due to ExxonMobil's discoveries in the Stabroek Block, with output expected to reach 1.5 million barrels per day by the end of the decade.
The country's rapid development has been fueled by high-quality, sweet crude oil and significant foreign investment.
Chevron's acquisition of Hess has sparked a legal dispute with ExxonMobil over ownership rights in the Stabroek Block, potentially impacting future development. ...
After decades of poor drilling results, Guyana has rapidly emerged as a significant global petroleum producer following a series of world-class discoveries made by an Exxon-led consortium in the offshore 6.6 million acre Stabroek Block. ... Since 2015, Exxon has made nearly 40 discoveries that are believed to contain at least 11 billion barrels of oil. The first discovery occurred in 2015 with the Liza-1 wildcat well, followed by the January 2017 Payara and Liza Deep discoveries, with the Liza 3 appraisal well found a 100 to 150-million-barrel reservoir below the existing Liza oilfield. It is speculated that the Stabroek Block contains well over 11 billion barrels of oil reserves, with the acreage possessing the potential to eclipse Brazil’s proven and probable reserves totaling 23 billion barrels, the second largest in South America. ... "
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