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Operating and proposed projects in the Stabroek block. Esso, a subsidiary of ExxonMobil, began exploring the off-shore region in 2008. [10] In May 2015 ExxonMobil announced discovery of more than 90 metres of high-quality, oil-bearing sandstone reservoirs about 200 km off the coastline, [11] considered to be one of the largest crude oil discoveries of the past decade. [12]
An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, four people familiar with the matter said.
The Global Super League is an international club cricket tournament, organized by Cricket West Indies. [2] The inaugural season is being held in Guyana, [3] with 5 club teams from Australia, Bangladesh, England, Pakistan and the West Indies, with teams invited from the domestic competitions Twenty20 Big Bash, Bangladesh Premier League, T20 Blast, Pakistan Super League and Caribbean Premier ...
[90] [91] The acquisition, which was announced on October 23, 2023, opens up new opportunities in the US shale plays and in oil-rich Guyana. Hess Corp, Exxon Mobil and China's CNOOC, key players in Guyana, have been producing a combined 400,000 barrels per day.from two offshore projects. With the potential to develop 10 more projects, Guyana ...
Exxon’s $60 billion deal to buy Pioneer and Chevron’s $53 ... acquisition will give the company 30% ownership of more than 11 billion barrels equivalent of recoverable resources in Guyana, ...
In April 2015, ExxonMobil announced its discovery of a significant oil reserve off the coast of Guyana in South America. At the time, it was estimated to contain more than 700 million barrels of oil. [79] Hess began acquiring interest in the reserve in 2018. [80] [81] By 2022, estimates were increased to 11 billion barrels. [82]
The economy of Guyana is one of the fastest growing economies in the world, with a gross domestic product (GDP) growth of 19.9% in 2021. [9] In 2024, Guyana had a per capita gross domestic product ( purchasing power parity ) of Int$ 80,137 and an average GDP growth of 4.2% over the previous decade. [ 4 ]
Guyanese Natural Resources Minister Rafael Trotman admitted that ExxonMobil had financially backed Guyana for legal disputes, [34] in addition to a "non-disclosed signing bonus" paid by ExxonMobil according to then president David Granger. ExxonMobil Country Manager, Rod Henson, said the payments were customary and usual for petroleum ...