Production

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SBM Offshore’s new build FPSO receives $1.615 billion project financing for Mero Field in Brazil

OilNOW -
SBM Offshore has announced the successful signing of a project financing agreement for the FPSO Alexandre de Gusmão, totaling a significant amount of US$1.615 billion. The financing has been secured through a consortium of 12 international banks, with insurance...
News

Liza 2 was second highest producing project in South America in 2022 – GlobalData

OilNOW -
Data analytics and information service, GlobalData, said ExxonMobil’s Liza Phase 2 project offshore Guyana had the second-highest oil and condensate production in South America in 2022. It expects the project to produce until 2043. Below is a chart showing the...
News

Liza Phase Two production dips in second half of April

Kemol King -
Production guidance from Hess Corporation for the Stabroek Block indicates a reduction in 2023 Q2 compared to the prior quarter, as Exxon moves to execute maintenance on the Liza Phase 2 project.  Net production for Hess, a 30% stakeholder in...
News

ExxonMobil’s Liza field surges to 45 million barrels in first four months of 2023

Kemol King -
ExxonMobil’s Liza field offshore Guyana produced more than 45 million barrels of crude in the first four months of 2023. This represents a 163% increase over the 17 million barrels produced in the same period last year.  Data from Guyana’s...
Exploration

From Africa to South America, leaders say environmental lobby hindering development

OilNOW -
In a world grappling with the urgent need to combat climate change, the western environmental lobby stands accused of putting some nations between a rock and a hard place. A divide seems to be emerging between anti-oil activists and...
News

Brazil’s Anna Nery FPSO achieves start-up

OilNOW -
Brazil’s Petrobras is ramping up production in its Campos Basin with the start-up of the Anna Nery vessel. Paired with the Anita Garibaldi floating production, storage, and offloading (FPSO) unit, the vessels are an integral part of Brazil’s major revitalisation...
News

MODEC proceeding with first major Exxon deepwater project in 20 years, off Guyana’s coast

OilNOW -
Mitsui Ocean Development & Engineering Company Inc. (MODEC) said on Monday it will proceed with engineering, procurement, construction and installation (EPCI) of the Uaru Floating Production, Storage, and Offloading (FPSO) vessel following a final investment decision on the project by ExxonMobil Guyana...
Exploration

Exxon to conduct suite of studies to optimise Stabroek Block projects

OilNOW -
ExxonMobil Guyana has agreed to conduct a suite of studies to ensure the operational efficiencies and integrity of its Stabroek Block projects are preserved for decades to come.According to the Petroleum Production Licence for the Uaru Development Project, Exxon’s...
News

Stabroek Block produced 378,000 bpd in first quarter of 2023

Kemol King -
ExxonMobil produced 34.05 million barrels of crude in the first quarter of 2023 from the Liza projects offshore Guyana, at 378,340 barrels per day (bpd). Output peaked at 408,860 bpd.  Liza Phase 1 produced 13.598 million barrels at 151,090 bpd....
News

Shell restarts North Sea operations with big focus on gas production

OilNOW -
Shell U.K. Ltd., a subsidiary of Shell plc, has completed the restart of operations at the Pierce field in the UK Central North Sea, following a significant upgrade to allow gas to be produced after years of the field...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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