Focus has shifted towards the Cretaceous-Tertiary petroleum system in the basin due to the Liza discovery just over the maritime border in Guyana. The giant oil discovery has significantly de-risked the play and proved the potential for material discoveries in the basin. Material value creation is achievable, despite fiscal terms that are less attractive than its neighbours'. Much of the prospective acreage is under licence, and competition is heating up for the ultra-deepwater blocks beyond currently licensed acreage. The Guyana Basin is predominantly an offshore basin, stretching across the waters of Guyana, Suriname and French Guiana. The basin shares many similarities with emerging hydrocarbon plays on the Atlantic Margin of West Africa, including offshore Ghana, where the giant Jubilee discovery was made, and Sierra Leone.