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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.
Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
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Asset report | Aug 2016
Suriname Guyana exploration basin
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