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CGX Energy and Frontera Energy, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, have announced integrated results from the Kawa-1 exploration well, offshore Guyana. The well successfully discovered light oil in the Santonian and Coniacian and gas condensate in the Maastrichtian and Campanian, with 228 feet (69 metres) of net pay identified.
The deeply impoverished South American microstate of Guyana, which was rocked by the COVID-19 pandemic, finds itself at the epicenter of the continent's latest mega-oil boom. Since 2015, ExxonMobil, which has a 45% stake and is the operator, along with .
Guyana is quickly becoming one of ExxonMobil’s most profitable investments, so much so that it is betting another $10 billion on the up-and-coming oil producer