Guyana oil news

Here are some recent news articles and updates on the oil industry in Guyana:

Recent Discoveries and Production

• ExxonMobil has announced that it has made a significant oil discovery at the Yellowtail-1 well in the Stabroek Block, offshore Guyana. The discovery is estimated to contain between 700 million and 1 billion barrels of oil. (Source: ExxonMobil, June 2022)
• Guyana's oil production has surpassed 100,000 barrels per day (bpd) for the first time, according to data from the Guyana Office for Energy Production (GOEP). The country's oil production has been steadily increasing since the first oil shipment in 2020. (Source: GOEP, July 2022)
• The Liza Phase 2 development, operated by ExxonMobil, has started producing oil in Guyana. The project is expected to produce up to 220,000 bpd of oil. (Source: ExxonMobil, March 2022)

Investments and Partnerships

• The Guyana government has signed a deal with the Chinese company, Sinopec, to develop the Kaieteur Block, which is estimated to contain up to 2 billion barrels of oil. (Source: Guyana Chronicle, June 2022)
• The Guyana government has also signed a deal with the Canadian company, CGX Energy, to develop the Corentyne Block, which is estimated to contain up to 1.5 billion barrels of oil. (Source: CGX Energy, May 2022)
• ExxonMobil has announced plans to invest $1 billion in Guyana's oil and gas sector over the next five years. The investment will focus on developing the country's oil and gas infrastructure. (Source: ExxonMobil, April 2022)

Environmental and Social Concerns

• The Guyana government has announced plans to establish a new environmental agency to oversee the country's oil and gas sector. The agency will be responsible for ensuring that the country's oil and gas operations are carried out in an environmentally responsible manner. (Source: Guyana Chronicle, June 2022)
• The Guyana government has also announced plans to establish a new social fund to support communities affected by the oil and gas industry. The fund will provide financial support to communities for projects such as education, healthcare, and infrastructure development. (Source: Guyana Chronicle, May 2022)
• Environmental groups have expressed concerns about the impact of oil and gas operations on Guyana's fragile ecosystem. The groups are calling for greater transparency and accountability from the government and oil companies. (Source: Guyana Times, April 2022)

Economic Impact

• The oil and gas industry is expected to have a significant impact on Guyana's economy, with estimates suggesting that it could increase the country's GDP by up to 20%. (Source: International Monetary Fund, 2022)
• The Guyana government has announced plans to use the revenue generated from the oil and gas industry to invest in infrastructure development, education, and healthcare. (Source: Guyana Chronicle, June 2022)
• The oil and gas industry is also expected to create thousands of jobs in Guyana, both directly and indirectly. (Source: ExxonMobil, April 2022)

I hope this information is helpful!