By Matthew Smith for Oilprice.com
The Guyana-Suriname Basin has emerged as the world’s hottest offshore oil play and with the changes occurring to the global energy mix after Russia’s invasion of Ukraine, the Caribbean is becoming an important player in world oil markets. In the space of a mere seven (7) years, Guyana has emerged as a leading global drilling destination after ExxonMobil made 32 discoveries in the offshore Stabroek Block. While the U.S Geological Survey predicted in a May 2001 fact sheet that the Guyana-Suriname Basin held somewhere between 2.8 billion and 32.6 billion barrels of undiscovered oil resources, there are signs the volume is far greater.
