The tiny South American nation of Guyana is poised to become one of the leading offshore drilling jurisdictions in South America. Global energy supermajor Exxon, has established a dominant foothold in offshore Guyana, acquiring a 45% interest in the 6.6-million-acre Stabroek Block, with partner Hess holding 30% and Chinese national oil company CNOOC controlling the remaining 25%. Exxon has made a series of large high quality oil discoveries in the block. The latest was the September 2020 Redtail discovery which saw Exxon revise upwards its oil…
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