On January 5, 2018, ExxonMobil announced the discovery of a large amount of oil and gas resources in the Stabroek block in Guyana, South America, the largest discovery in the region.
ExxonMobil said that by counting the other resources discovered in the Stabroek block over the past two years, the recoverable oil and gas reserves of this large field are expected to reach 3.2 billion barrels (about 440 million tons equivalent). According to the 40% oil and gas recovery, the oil and gas resources of this oilfield have exceeded 1 billion tons of equivalent.
Although this 1 billion-ton oil field is far from South America, CNOOC from China is the major shareholder of this giant oil field. The Stabroek block has an area of ​​6.6 million acres and is an ultra-deep water field. Esso Exploration & Production Co., Ltd. (Guyana), owned by ExxonMobil, owns 45% of this block and is the operator of the project. Hess holds a 30% interest in the project and CNOOC holds a 25% interest.
Located in Guyana in the north of South America, it is the only country in South America that uses English as its official language. It is based in Venezuela and Brazil and has a population of less than 1 million. This small country is now becoming an important emerging oil power.
In the past 20 years, South America has become increasingly prominent in the oil industry. Countries represented by Venezuela and Brazil have discovered a large amount of oil resources and become the world's top oil country.
Guyana, which is located between the two countries, has also shown good potential for oil and gas resources. In May 2015, ExxonMobil's drilling well Liza-1 discovered oil and gas in the Stabroek block of Guyana, becoming the world's largest oil and gas discovery in 2015, and uplifting Guyana's position in the oil and gas industry.
In the following two years, Exxon Mobil discovered a large number of oil and gas resources in Stabroek, shocking the world.
CNOOC's interest in this 1 billion-ton giant oil and gas field needs to be traced back four years ago. In 2013, CNOOC acquired Nixon Petroleum for $15 billion.
Nixon has since become an important platform for CNOOC to expand its overseas business. In addition to acquiring a large number of Canadian oil sands assets, CNOOC also owns oil and gas assets in the North Sea, Gulf of Mexico, and South America.
In November 2014, CNOOC Nixon Guyana Co., Ltd. announced that it had obtained a 25% interest in the Stabroek block in the Guyana waters. According to the current exploration situation of the Stabroek block and the proportion of CNOOC's equity, this project will bring at least 100 million tons of recoverable oil and gas reserves to CNOOC.
The Stabroek oil and gas field is an ultra-deep water and oil field. Currently, the 8 wells drilled by ExxonMobil have a shallowest depth of 1,563 meters and a deepest water depth of 2,738 meters. Participation in this project will also bring certain experience to CNOOC in the development and operation management of ultra-deep water projects.
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