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“We are not going to weaken the PSA to suit ExxonMobil” – Jagdeo

Shikema Dey -
Guyana’s Vice President Bharrat Jagdeo said on Thursday that the government does not intend to alter its new production sharing agreement (PSA) to suit ExxonMobil - the lone producer offshore. The new terms do not apply to the Stabroek Block...
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China Merchant Heavy Industries selects TMC Compressors for SBM Offshore FPSO project

OilNOW -
China Merchant Heavy Industries (CMHI) has awarded a contract to TMC Compressors (TMC) to deliver a marine compressed air system for a new build production vessel being constructed for SBM Offshore. TMC will supply a large-capacity marine compressed air system,...
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Exxon was faced with a “drill or drop” decision regarding Kaieteur block – Routledge 

Shikema Dey -
ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...
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Venezuela receives green light from U.S. for unrestricted oil exports over six-month period 

OilNOW -
The United States has announced the easing of sanctions on Venezuela after the government and opposition reached an agreement to have next year's election monitored by international observers. These sanctions relief measures will target Venezuela's oil, gas, and gold...
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Exxon on target for first oil soon at yet another Guyana project

OilNOW -
The start-up of ExxonMobil Guyana’s third Stabroek Block development is imminent, with company President, Alistair Routledge confirming that the project will be up and running soon.  “We’re still on course to start off Payara by the end of this year....
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Final investment decision for Exxon’s 6th Guyana project expected early next year

OilNOW -
Subject to approvals from authorities in Guyana, the final investment decision (FID) for ExxonMobil’s massive Whiptail development - its sixth in the Stabroek Block - is expected by Q1 2024.  So says the president of the company's Guyana operations, Alistair...
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Guyana alerts int’l partners on reports of Venezuela military mobilization near border

OilNOW -
The government of Guyana has issued a statement expressing its concern over reports of increased military activities and troop mobilization by Venezuelan forces in proximity to the country's borders. In response to these developments, Guyana has taken steps to...
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Petrobras production hits 3.98 million barrels a day – CEO 

OilNOW -
Production at Brazil’s state-run Petrobras hit close to four million barrels a day in this quarter, according to its chief executive officer, Jean-Paul Prates.  In a post on X (formerly Twitter), Prates said Petrobras began producing oil in 1953 with...
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Saudi Aramco, Equinor, Eni, ADNOC among 25 bidders vying for Guyana’s crude marketing contract

OilNOW -
In a highly competitive bid, 25 prominent companies from around the world are vying for the crude marketing contract for Guyana's oil entitlement from the Stabroek block.  The list of contenders includes energy giants such as Saudi Aramco, Equinor, Eni,...
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Exxon says audit not yet finalised, going to arbitration would be last resort

OilNOW -
Going to arbitration would be the “last resort” for ExxonMobil Guyana Limited (EMGL) to resolve the 1999-2017 audit of its Stabroek Block expenses. This is according to EMGL's President, Alistair Routledge.  The process remains without closure as Exxon is still...
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Payara still leads ExxonMobil’s record-breaking ramp-up offshore Guyana

ExxonMobil’s Payara project continues to hold the record for the fastest production ramp-up among all oil developments in Guyana’s...

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