Exploration

In 2018, Guyana’s rapidly expanding hydrocarbons sector paved the way for significant capital inflows, accounting for 28.8% of Gross Domestic Product (GDP). This was noted in a report prepared by the International Monetary Fund (IMF). The financial institution was pleased...

The small South American country of Guyana, unknown to the world of oil and gas just seven years ago, is now one of the most active regions globally even as companies opt for less risk which is seeing a...

All eyes will be on Guyana come September when the country opens its first offshore bid round. This will be a major step for Guyana, a country that has never handed out oil licenses through a competitive process. Oil and...

Petrogas E&P Netherlands B.V. has secured Maersk Drilling’s harsh environment jack-up rig ‘Resolute’ for an additional five-well drilling work scope, amending a previous agreement. An option included in the original contract will be replaced by the newly entered five-well contract,...

Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...

From 2022 through 2027, Suriname’s state oil company, Staatsolie, plans to expend an estimated US$1.5 billion as part of its Investment Program, the bulk of which will be for participation in offshore development. In its updated Strategic Roadmap, Staatsolie noted too that the...

Following a successful drill campaign offshore Suriname at Baja-1 in Block 53, APA Corporation will now be turning its attention to the Awari exploration prospect, located around 17 miles north of the Maka discovery at Block 58. TotalEnergies operates Block...

Stena Drilling has announced the launch of its new start-up ‘Stena Wells’ – a venture aimed at providing fully managed well construction and decommissioning. Stena Wells is a separate entity from Stena Drilling, but the two companies will collaborate to provide...

Barbados is looking to test its exclusive economic zone for petroleum deposits, as it will open a licensing round for 22 offshore blocks later this year. The notice from the Ministry of Energy and Business said interested oil and gas...

The Orinduik Block partners are expected to relinquish 20% of the acreage as the first renewal period of the license draws to a close, taking approximately 360 square kilometers (km2) off the 1,800 km2 block. Eco (Atlantic), a partner in...