Guyana reveals significant oil discovery in Stabroek Block

Guyana’s Ministry of Natural Resources on Thursday revealed a major discovery at the Lancetfish-2 appraisal well situated in the Stabroek Block.

This recent find is the fourth for the country in 2023 alone, pushing the grand tally of offshore discoveries from 2015 onwards to an impressive 46.

2023: A year of discoveries

Earlier this year, the Stabroek Block was already in the spotlight with the Fangtooth SE-1 and Lancetfish-1 finds. 

Moreover, the Corentyne Block also chimed in with the significant Wei-1 discovery.

Lancetfish-2: Unveiling the depths of riches

Reports are that the Liza Petroleum Production License area’s latest gem, the Lancetfish-2, has unveiled an estimated 20 meters of hydrocarbon-rich reservoir. 

Additionally, it has showcased about 81 meters of hydrocarbon-bearing sandstone, further establishing its significance.

Comprehensive appraisal on the horizon

This newfound reservoir is set to undergo a meticulous and comprehensive appraisal process, which stands in alignment with the ongoing appraisal undertakings for other remarkable discoveries in the region.