“We didn’t realise the significant potential of Stabroek Block” – says Shell VP exploration.

Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil major ExxonMobil’s partner at the time – Royal Dutch Shell – although analysing the same data that led to the Liza discovery, decided that the financial risk was too high and the prospects of finding oil was extremely low.