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World’s Newest Oil Hotspot Undeterred By Poor Drilling Results

After a series of notable oil discoveries in offshore Guyana and then Suriname over the last six years the impoverished South American nations became a focal point for offshore drilling on the continent. Seismic and other geological data show that the region possesses many characteristics in common with the West African margin, where the world-class multi-billion-barrel Jubilee oilfield was discovered in 2007.

Guyana and Suriname, along with French Guiana, share the Guyana-Suriname Basin which is now one of the world’s hottest drilling prospects…

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