Exxon Bets Another $10 Billion On Guyana’s Oil Boom ...Middle East

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Exxon Bets Another $10 Billion On Guyana’s Oil Boom
The deeply impoverished South American microstate of Guyana, which was rocked by the COVID-19 pandemic, finds itself at the epicenter of the continent's latest mega-oil boom. Since 2015, ExxonMobil, which has a 45% stake and is the operator, along with its partners Hess and CNOOC which own 30% and 25% respectively, has made a swathe of high-quality oil discoveries in Guyana’s offshore 6.6-million-acre Stabroek Block. Exxon, which is the operator of the Stabroek Block, has made over 20 discoveries, 6 of those in 2021 alone, which the global…

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