Economy Guyana Market 
Green Car Congress
OCTOBER 2, 2020
ExxonMobil has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. ExxonMobil’s first offshore Guyana project, Liza Phase 1, began producing in late 2019, well ahead of the industry average for development time. Hess Guyana Exploration Ltd.
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JANUARY 6, 2022
ExxonMobil made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.
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APRIL 29, 2021
ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). In March 2021, ExxonMobil secured a sixth drillship, the Noble Sam Croft, for exploration and evaluation drilling activities offshore Guyana. These new projects continue to drive investment in the Guyanese economy.
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OCTOBER 8, 2021
ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana ( earlier post ) to approximately 10 billion oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd.
Green Car Congress
JANUARY 11, 2023
EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana. How China’s economy changes following its reopening from pandemic lockdowns could have a significant impact on global consumption of petroleum products.
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