Guyana behind Russia, ahead of US for largest discovered volumes since 2015 – Rystad Energy

Jun 24, 2022 News

Kaieteur News – As Russia takes the lead for the largest discovered volumes of oil and gas resources since 2015, positioning at second is Guyana, which is followed by the United States of America (USA).
This is according to Rystad Energy, a Norwegian group- an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry.
Guyana’s position among the top 10 countries in terms of conventional discovered volume for the seven year period is owed to its richest oil field, the Stabroek Block.
Rystad Energy stated that the emerging hydrocarbons producer is “galloping ahead in 2022.” It was noted too, that the Stabroek Block is estimated to hold nearly 11 billion of barrels of equivalent of oil (beo).
The Norwegian group is estimating that a trio of quick-fire discoveries unearthed by American oil giant, ExxonMobil and its partners on the prolific offshore Stabroek Block, together hold about 500 million boe of recoverable resources.
In late April, the Barreleye, Lukanani and Patwa finds were announced, and earlier this year the Fangtooth and Lau Lau discoveries revealed on the same block, making it 26 discoveries in total for Exxon and its partners.
Notably, Rystad stated that the five finds mean more than 1 billion boe of fresh resources have been unearthed in Guyana already this year, pushing the estimated cumulative recoverable resource base at Stabroek to nearly 11 billion boe.
Furthermore, CGX Energy announced a significant upgrade at its Kawa-1 find on the offshore Corentyne Block, which is likely to help push the Guyana-Suriname Basin past a current resource estimate of 13.6 billion boe, with many prospects still lined up to be tapped.
The countries that fall below the US are Egypt, Mauritania, Mexico, China, Turkmenistan, Malaysia and Senegal.