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CGX encounters 71 feet of net oil pay at Wei-1 well

OilNOW -
No word on commerciality Drilling costs revised upward again After completing the drilling of the Wei-1 well offshore Guyana, CGX Energy Inc. on Tuesday announced a discovery of 71 feet of net oil pay. The CGX exploration campaigns in recent years...
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ExxonMobil’s Tilapia-1 discovery emerges as Stabroek Block’s largest find

OilNOW -
Since 2015, ExxonMobil has made over 35 discoveries at the prolific Stabroek Block offshore Guyana with the Tilapia-1 find encountering the largest high-quality oil-bearing sandstone reservoir – bigger than the world-class Liza-1 - which put the South American country...
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Three international insurance companies backing policy for Stabroek Block

OilNOW -
ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has renewed its US$600 million per occurrence insurance policy for the Stabroek Block for the period 2023 - 2024. This was confirmed recently by Counsel for EEPGL, Edward Luckhoo SC. Luckhoo...
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Gov’t will closely monitor costs from Exxon’s US$40B Guyana projects – VP Jagdeo

OilNOW -
With over US$40 billion in sanctioned projects for the Stabroek Block, Guyana’s Vice President, Dr. Bharrat Jagdeo has assured that the pace of approval for these investments is not outstripping the country’s monitoring capabilities, nor is it overheating the...
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Day rates for floating rigs went up 40% in past year – WoodMac

OilNOW -
The deepwater drilling sector is experiencing a remarkable resurgence, with floating rig utilisation reaching an impressive 90% in 2023. According to a recent report from Wood Mackenzie titled "Are we at the tipping point of the deepwater rig market?"...
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All eyes on Suriname as major energy conference returns next week

OilNOW -
The upcoming 3rd Suriname Energy, Oil & Gas Summit & Exhibition (SEOGS) scheduled for June 19 to 22, 2023 in Paramaribo, Suriname, is generating significant attention and participation from both regional and global players. Regional ministers from Trinidad and...
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Reckless oil sector narratives could harm negotiations with external groups – Jagdeo

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo says reckless statements and distorted facts about the oil and gas sector not only place the country at risk of being a global laughingstock but could even harm negotiations with external groups. His position...
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Exxon’s expansion in Guyana is benchmark for investment prospects in other regions

OilNOW -
ExxonMobil seeks a combination of attractive geology, stable political conditions and the potential to minimise its carbon footprint in the production process, says its Exploration Chief John Ardill. Guyana, with its crown jewel - the Stabroek Block - has...
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Aker BP’s Øst Frigg Beta/Epsilon wildcat drilled to record 8,168 metres

OilNOW -
Norwegian oil company Aker BP has declared the recent Yggdrasil discovery to be Norway's longest-ever exploration well. This conclusion came after the Øst Frigg Beta/Epsilon wildcat well reached its target depth of 8168 metres, a record-breaking milestone that has...
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Guyana & Suriname to take center stage at Petroleum Engineering Conference

OilNOW -
The Latin America and the Caribbean Petroleum Engineering Conference (LACPEC) is set to highlight the new exploration frontiers - Guyana and Suriname - showcasing the region's advancements in the energy industry. The conference, renowned as the premier technical event...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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