Oil Discoveries
This was the year when ExxonMobil announced the first major oil discovery in Guyana.
What is 2015?
This is the name of the floating production, storage, and offloading vessel (FPSO) currently operating at the Liza Phase 1 development.
What is Liza Destiny?
The name of Guyana’s sovereign wealth fund, where oil revenues are deposited.
What is the Natural Resource Fund?
This U.S.-based company is the operator of the Stabroek Block.
What is ExxonMobil?
The acronym "FPSO" stands for this.
What is Floating Production, Storage, and Offloading?
This is the name of the first oil field that was discovered in the Stabroek Block.
What is Liza?
The process of drilling an exploratory well to confirm the presence of hydrocarbons.
What is wildcat drilling?
This international body helps Guyana manage transparency in its oil sector.
What is the Extractive Industries Transparency Initiative (EITI)?
These two companies are ExxonMobil’s co-venture partners in the Stabroek Block.
What are Hess Corporation and CNOOC?
The term for the point at which oil is first pumped from a well.
What is first oil?
This oil field, discovered in 2019, is named after a popular species of fish found in Guyana. This is also the 4th oil field to be developed.
What is Yellowtail?
This deepwater drillship, operated by Noble Corporation, has been used extensively for drilling in the Stabroek Block.
What is Noble Don Taylor?
Guyana’s Local Content Policy was officially implemented in this year.
What is 2021?
This government entity oversees the regulation of Guyana’s petroleum sector.
What is the Guyana Geology & Mines Commission?
The acronym "BPD" stands for this.
What is 'barrels per day'?
This block, adjacent to Stabroek, is operated by Eco Atlantic Guyana Limited.
What is the Orinduik Block?
This term describes the separation of oil, gas, and water on the FPSO before export.
What is three-phase separation?
This percentage of royalty is paid by ExxonMobil and its partners to the Guyanese government.
What is 2%?
This government entity ensures the prioritization of Guyanese nationals and Guyanese companies in the procurement of goods and Services for the enhancement of the value chain of the petroleum sector and to enable local capacity development.
What is the Local Content Secretariat?
This term refers to the process of injecting gas or water to maintain reservoir pressure and increase recovery.
What is Enhanced Oil Recovery (EOR)?
This is the 6th Development for the Stabroek Block.
What is Whiptail?
The technique used to analyze rock samples to determine reservoir quality.
What is core analysis?
The amount of profit oil that Guyana receives from the production-sharing agreement with ExxonMobil.
What is 50%?
This UK consultancy firm was procured to review the Field Development Plan (FDP) for the Yellowtail Project.
What is BayPhase?
This type of crude oil is typically found in Guyana’s offshore reservoirs, known for being light and sweet.
What is Medium-Light Crude?