Gov’t welcomes new oil discovery at Lancetfish-2

The Ministry of Natural Resources (MNR) is pleased to announce that the Lancetfish-2 appraisal well in the Stabroek Block has resulted in a significant discovery. This marks the fourth offshore discovery in Guyana for the year 2023 and brings the total number of discoveries from 2015 to date to a total of 46. The earlier discoveries made in 2023 include Fangtooth SE-1 and Lancetfish 1 in the Stabroek Block, as well as the Wei-1 discovery in the Corentyne Block.

The Lancetfish-2 discovery in the Liza Petroleum Production License area has unveiled an estimated 20 meters of hydrocarbon-bearing reservoir, along with approximately 81 meters of additional hydrocarbon-bearing sandstone. This newly discovered reservoir will undergo a comprehensive appraisal process, which aligns with the ongoing appraisal activities for other discoveries in the region.