Stabroek Oil and Gas Block (Guyana)

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Stabroek Oil and Gas Block is an operating oil and gas block in Guyana.

Project Details

Main Data

Table 1: Block-level project details for Stabroek Oil and Gas Block

*Final Investment Decision
Unit name Status Operator Owner Discovery year FID* year Production start year
Stabroek Operating[1] ExxonMobil[1] ExxonMobil (45.0%); Hess Guyana Exploration Ltd (30.0%); CNOOC Nexen Petroleum Guyana Ltd (25.0%)[1]

Production and Reserves

Table 2: Reserves of Stabroek Oil and Gas Block

million boe = million barrels of oil equivalent
Fuel Description Reserve Classification Quantity Units Data Year Source
hydrocarbons gross recoverable resources 9000 million boe 2021 [2]
hydrocarbons gross recoverable resources 11000 million boe 2022 [3]

Location

Table 3: block-level location details for Stabroek Oil and Gas Block

Concession/Block Location Coordinates (WGS 84)
Stabroek Block[4] Offshore, Guyana[5] 7.9904, -57.0997 (approximate)[5]

The map below shows the approximate location of the block:

Loading map...

Background

The Stabroek Block is a 6.6 million acre offshore oil reservoir off Guyana's Atlantic coast.[6][7] In May 2015, ExxonMobil announced that it had made its first significant oil discovery within the block at the Liza 1 well.[8] In July 2018, ExxonMobil raised its estimate of discovered recoverable resources in the Stabroek Block to 4 billion barrels of oil.[6] Projected recoverable reserves had grown to 9 million boe by October 2020, and ExxonMobil further increased its estimates to 10 million boe in October 2021.[9]

The Guyanese government has promoted a gas-to-power project that would transport natural gas from the Stabroek Block via the 225-kilometer Liza Gas Pipeline to the proposed 250 MW Wales power station.[10][11] Opponents argue that developing Guyana's solar electrical potential would be five times cheaper than the gas-to-power project, while avoiding the environmental risks of large-scale natural gas development.[12]

Articles and Resources

Additional data

To access additional data, including an interactive map of oil and gas extraction sites, a downloadable dataset, and summary data, please visit the Global Oil and Gas Extraction Tracker on the Global Energy Monitor website.

References

  1. 1.0 1.1 1.2 https://web.archive.org/web/20230519133526/https://corporate.exxonmobil.com/locations/guyana. Archived from the original on 19 May 2023. {{cite web}}: Missing or empty |title= (help)
  2. https://web.archive.org/web/20210830142941/https://www.ogj.com/exploration-development/discoveries/article/14202215/exxonmobil-makes-oil-discovery-offshore-guyana. Archived from the original on 30 August 2021. {{cite web}}: Missing or empty |title= (help)
  3. https://web.archive.org/web/20230216142708/https://corporate.exxonmobil.com/locations/guyana/guyana-project-overview. Archived from the original on 16 February 2023. {{cite web}}: Missing or empty |title= (help)
  4. https://web.archive.org/web/20230216142708/https://corporate.exxonmobil.com/locations/guyana/guyana-project-overview. Archived from the original on 16 February 2023. {{cite web}}: Missing or empty |title= (help)
  5. 5.0 5.1 https://web.archive.org/web/20230216142708/https://corporate.exxonmobil.com/locations/guyana/guyana-project-overview. Archived from the original on 16 February 2023. {{cite web}}: Missing or empty |title= (help)
  6. 6.0 6.1 "ExxonMobil increases estimate for Guyana's Stabroek Block to 4 Bbbl," World Oil, 23 July 2018
  7. "Guyana: Project overview," ExxonMobil, accessed August 2018
  8. "History of oil exploration in Guyana". Guyana Chronicle. December 21, 2019. Retrieved 2022-06-06.{{cite web}}: CS1 maint: url-status (link)
  9. Palmigiani, Fabio (2021-10-07). "Make it 10 billion boe: ExxonMobil ups resource estimate at Guyana block | Upstream Online". Upstream Online.{{cite web}}: CS1 maint: url-status (link)
  10. "Jagdeo justifies Wales location for gas-to-energy project, associated industries". Demerara Waves Online News. February 10, 2021.
  11. David Blackmon. "ExxonMobil Natural Gas Will Help Guyana Meet Its Climate Goals". Forbes. Retrieved 2021-05-04.
  12. "Reinject gas and save Guyana". Kaieteur News. May 30, 2022.{{cite web}}: CS1 maint: url-status (link)