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Appeal Court Justice to conclude Exxon insurance case before June 10

OilNOW -
Guyana Justice of Appeal, Rishi Persaud, has set May 29 as the hearing date for the appeal of a Supreme Court ruling concerning financial assurance for ExxonMobil’s Stabroek Block operations.  Persaud met with participants in the case during a case...
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Laying of Guyana’s underwater gas pipeline to commence by June

Shikema Dey -
It’s full steam ahead with Guyana’s Gas-to-Energy project.  Before the second quarter ends, Van Oord and Subsea 7 are expected to begin laying pipeline infrastructure on Guyana’s seabed, project documents indicate. A project summary submitted by the consortium to the Environmental...
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Guyana poised to capitalise on Latin America’s dwindling gas production

OilNOW -
Gas production is dwindling in Latin America at a time when the world needs the resource the most. But this could be an opportune time for Guyana - the South American country with big reserves that is laser-focused on...
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CGX examining options to meet increasing costs for Wei-1 well

OilNOW -
With the drilling costs for the Wei-1 well on the Corentyne Block jumping from the initial US$160 million estimate to a range of US$175 million – US$190 million, shareholders for Frontera Energy Corporation have expressed concern about the capacity...
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Petrobras expects start-up of FPSO Almirante Barroso in 2Q23 as diesel, gasoline and jet fuel yields increase in 1Q23

OilNOW -
Petrobras, the Brazilian state-run oil and gas company, on May 9 announced that its average oil, natural gas liquids (NGL), and natural gas production reached 2.68 million barrels of oil equivalent per day (MMboed) in the first quarter of...
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Is Exxon’s profit waning? Here’s what analysts are saying

OilNOW -
Oil majors raked in big bucks in 2022. It was a great year for oil and gas profits. ExxonMobil Corp made a whopping US$55.7 billion in earnings for the full year, up from US$23 billion in 2021 – a US$32.7...
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Yellowtail Development Fact Sheet

OilNOW -
Next up on ExxonMobil’s Stabroek Block development list is Yellowtail - one of the largest ever sanctioned. Coming in at US$10 billion, the project is running ahead of schedule; with the production vessel 45% complete and preparatory works progressing...
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Noble Discoverer will leave to drill Colombia well after Wei-1

OilNOW -
Noble Corporation said it has been awarded a contract for utilisation of the Noble Discoverer offshore Colombia.  The award, made by Ecopetrol, is for the drilling of the Orca North-1 well in Q4, 2023.  The rig is currently under contract for...
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Dyna-Mac net order book up to US$457.8 million as fresh contracts secured 

OilNOW -
Singapore-based engineering firm Dyna-Mac Holdings Ltd. has announced that it has secured several firm contracts from its repeat customers, totaling a provisional sum of US$203.3 million (S$270 million).  The contracts include the construction of Topside Modules for a Floating Production,...
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Touchstone Exploration’s Q1 2023 production more than doubles from last year

OilNOW -
Trinidad’s Touchstone Exploration said its average production for the first quarter of 2023 more than doubled compared to the same period last year.  In its announcement, Touchstone said it produced 2,139 oil-equivalent barrels per day (bpd), representing a 53% hike...
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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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