Is This South America’s Last Great Oil Boom?

The Guyana-Suriname basin is gaining considerable attention from big oil despite the threat of peak oil demand and global push to significantly reduce carbon emissions. The U.S. Geological Survey calculated that the basin had mean undiscovered resources of 15.2 billion barrels of crude oil, 2.3 billion barrels of natural gas liquids and 42 trillion cubic feet of natural gas. Those numbers along with ExxonMobil’s exceptional exploration success in the Stabroek block offshore Guyana, with 21 high-quality oil discoveries, highlight the considerable…