WM: 80% of the remaining deepwater oil resources in the world will come from 5 countries

According to a report from Petroleum Today on September 6, 2021, it is customary for analysts to evaluate oil resources based on general or broad assumptions

The global upstream industry is still extremely active and must meet the undeveloped supply demand of 450 billion barrels equivalent by 2040

In WM's analysis, understanding which attributes affect oil recovery can help answer their question:'Which countries have the most respected deepwater oil resources?'

Dr.

More than 9 billion barrels of oil have been discovered so far in the deepwater oil resources of the Stabrook block in Guyana, the quality of which is the best in the world, and this block is expected to provide high production

John Hess, CEO of American Hess Corporation, said: “The Guyana reservoir is one of the best quality reservoirs in the world, with high porosity and high permeability, which is expected to bring high recovery and production

With every new discovery offshore Guyana, analysts are increasing their forecasts of production, indicating that this new oil producer is expected to become one of the largest oil producers in Latin America, possibly second only to Brazil

Hess said: "This is one of the world's major oil producing areas