Guyana: the world’s newest oil producer Copyright © 2020 IHS Markit. All Rights Reserved *Excludes Canadian Imports Note: CNOOC = China National Offshore Oil Corporation; FPSO = floating, production, storage, and offloading. Source: IHS Markit, EIA 441745943-0120-CU Imports of 28-36°API crude to US PADD III in 2016 versus 2019 Potential markets Liza Crude With IHS Markit Crude Oil Markets Short-Term Outlooks, gain access to the most credible insight and developments into Latin America and across global oil markets. Anticipate and capitalize on critical turning points in the crude oil market. SURINAME FRENCH GUIANA B R A Z I L GUYANA TRINIDAD AND TOBAGO STABROEK BLOCK VENEZUELA 20 May 2015 2 Mar 2020 20 Dec 2016 12 Jun 2018 21 Dec 2018 20 Jan 2020 28 Aug 2019 20 Dec 2019 23 Dec 2019 ExxonMobil, with the partnership of Hess and CNOOC, makes first oil discovery offshore Guyana in the Stabroek Block’s Liza-1 well. Guyana’s general elections will be held. SBM Offshore is awarded contracts for the construction of FPSO at the Liza field. Guyana’s parliamentary makes a no-confidence vote against President David Granger, which under Guyana’s constitution requires a new presidential election. FPSO Liza Destiny, with a capacity of 120,000 b/d, arrives in Guyana. Guyana exports its first Liza crude (1MMbbl) to ExxonMobil’s refinery in the USGC via the tanker Yannis P. Guyana’s first oil production begins at Liza Phase 1 project. The 15th oil discovery was made on the Stabroek Block at Mako-1 well. Development drilling continues in Liza Phase 1. 600 550 500 450 400 350 300 250 200 150 100 2016 West Africa Latin America North Africa Europe 2019 YTD Source: IHS Markit © 2019 IHS Markit Thousand b/d United States 32.1° API 0.51% Sulfur Liza-Dated Brent (USGC) price spread ($/bbl) China Europe -$2

Guyana: the world’s newest oil producerGuyana: the world’s newest oil producer Copyright © 2020 IHS Markit. All Rights Reserved *Excludes Canadian Imports Note: CNOOC = China

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Guyana: the world’s newest oil producer

*Excludes Canadian Imports Note: CNOOC = China National Offshore Oil Corporation; FPSO = floating, production, storage, and offloading.Source: IHS Markit, EIA

441745943-0120-CU

Imports of 28-36°API crude to US PADD III in 2016 versus 2019

Potential markets

Liza Crude

With IHS Markit Crude Oil Markets Short-Term Outlooks, gain access to the most credible insight and developments into Latin America and across global oil markets. Anticipate and capitalize on critical turning points in the crude oil market.

SURINAME FRENCHGUIANA

B R A Z I L

GUYANA

TRINIDAD AND TOBAGO

STABROEK BLOCK

VENEZUELA

20 May 2015

2 Mar 2020

20 Dec 2016

12 Jun 2018

21 Dec 2018

20 Jan 2020

28 Aug 2019

20 Dec 2019

23 Dec 2019

ExxonMobil, with the partnership of Hess and CNOOC, makes first oil discovery offshore Guyana in the Stabroek Block’s Liza-1 well.

Guyana’s general elections will be held.

SBM Offshore is awarded contracts for the construction of FPSO at the Liza field.

Guyana’s parliamentary makes a no-confidence vote against President David Granger, which under Guyana’s constitution requires a new presidential election.

FPSO Liza Destiny, with a capacity of 120,000 b/d, arrives in Guyana.

Guyana exports its first Liza crude (1MMbbl) to ExxonMobil’s refinery in the USGC via the tanker Yannis P.

Guyana’s first oil production begins at Liza Phase 1 project.

The 15th oil discovery was made on the Stabroek Block at Mako-1 well.

Development drilling continues in Liza Phase 1.

600550500450400350300250200150100

2016 West Africa

Latin America

North Africa

Europe 2019 YTD

Thou

sand