Exploration, Production & Transition

GBS 2022 is hosted under the theme of Exploration, Production and Transition and is the only regional summit showcasing opportunities across the entire Guyana-Suriname Basin.

Exxon has made around 20 substantial discoveries offshore Guyana since 2015 and with 5 additional recent large discoveries offshore Suriname the Guyana-Suriname basin is proving to be prolific – with an estimated oil-in-place exceeding 14 billion bbls.

The recent offshore exploration success in the Stabroek Block has led to increased interest in the prospectivity of the wider basin and international attention on the two small countries of Guyana and Suriname is significant. Not only because of the massive volumes of high-grade reserves but also due to the extremely low breakeven prices of less than USD 35/bbl. and falling despite the challenging deep-water environment.

GUYANA

The Liza field is being developed by ExxonMobil, along with co-venturers Hess and CNOOC, and is located in the Stabroek Block, roughly 200 km offshore Guyana in approximately 1,800-meter-deep water. Spanning the range of upstream oil and gas activities from exploration, drilling, development, and operations, Liza Phase 1 is already producing around 130,000 barrels of oil a day.

Liza Phase 2 is delivering a world-class deepwater development which combines a new build FPSO in the cycle time of a conversion with one of the industry’s largest subsea developments.

Guyana is expecting an additional 12 to 15 well exploration and appraisal drilling programme this year.

By the end of 2027 Guyana is expecting at least 7 FPSO’s operating in their waters with a daily production of well over a million barrels.

SURINAME

2020 was a remarkable year for Suriname with their first offshore discovery. Apache are now four from four in Suriname and in a new JV with Total. With a fifth discovery by Petronas, Suriname is hot on the heels of Guyana as a global success story.

The NOC Staatsolie intends to develop Suriname's hydrocarbon potential over the full value chain, generate electricity and develop renewable, sustainable energy resources.

Gain direct access to primary stakeholders involved in detailing the region’s upcoming project plans, budget allocations, timelines and technical challenges.

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