The South American country of Guyana has recently emerged as a world-recognized oil-producing nation. This occurred due to ExxonMobil’s string of world-class discoveries in offshore Guyana, starting with the 2015 Liza-1 wildcat well, drilled 118 miles northeast of the capital, Georgetown, in the 6.6 million-acre Stabroek Block.
Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has confirmed the departure of a floating production, storage, and offloading (FPSO) vessel from a Chinese shipyard. This FPSO is now sailing toward South America, where it is expected to be deployed off the coast of Brazil.
After Exxon’s string of high-quality oil discoveries in offshore Guyana delivered more than 11 billion barrels of oil resources South America started garnering considerable attention from energy investors.