Exploration

The Stabroek Block, located approximately 120 miles offshore Guyana, covers an area of 6.6 million acres (26,800 square kilometers). The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional...

Updated August 21, 2021 “So, it's like the western hemisphere's Abu Dhabi in a sense” Guyana – the biggest oil story in the last decade – remains the centre of attention in any discussion on deepwater prospects in the western hemisphere....

Spanish oil company Repsol plans to drill another well offshore Guyana in 2022. Speaking at the Offshore Technology Conference this week, Tomas Zapata, Head of Exploration for the Americas, said the company is optimistic about hitting pay after the first...

Updated August 15, 2021 Over 100 exploration wells are expected to be drilled in South America outside Brazil over the next 5 years and Norway-based Rystad Energy has said most of the action could be found off the northern shelf...

In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in...

The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of...

Exploration and appraisal drilling offshore Guyana is set to get even busier with more wells now being targeted at the Canje block where two non-commercial prospects have been spudded so far. The Environmental Protection Agency said in a notice...

Oceaneering International has been awarded a contract from ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) to provide two surveys offshore the South American country. The contract award covers a towed and autonomous underwater vehicle (AUV) geophysical survey and...

Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company...

The announcement this week by U.S. oil major ExxonMobil that it has discovered more oil off the coast of Guyana further enhances the outlook analysts have had for the new oil producing country. Additional volumes being discovered at the...