The Ministry of Natural Resources has clarified recent reports regarding the total recoverable oil equivalent resources in Guyana’s offshore fields. According to the Ministry, the country’s offshore resources are estimated to be 11.6 billion barrels of oil equivalent, based on data reviewed up to the second quarter of 2024. This comprehensive figure includes all discoveries made offshore Guyana to date.
The Ministry also addressed recent statements from ExxonMobil Guyana Limited (EMGL) concerning the Stabroek Block. EMGL recently reported that the oil reserves within this block alone are just under 11 billion barrels. This estimate is part of the company’s third-quarter submission, which remains under review by the Ministry.
The Ministry of Natural Resources emphasized that it is committed to thoroughly evaluating this data and will provide an updated assessment of the reservoir volumes once the verification process is complete. This ongoing review aligns with the Ministry’s dedication to maintaining transparency in the management of Guyana’s natural resources.
The Ministry also reaffirmed its commitment to delivering accurate and timely information to the public, ensuring that all data on Guyana’s oil reserves is precise and reflective of the country’s continuous progress in resource development.
