Production

Guyana’s prolific Stabroek Block holds an estimated 11 billion barrels of oil equivalent with only a fraction of the 6.6 million acres (26,800 square kilometers) explored by operator ExxonMobil and its partners Hess and CNOOC so far. More exploration activities are on the...

Stabroek Block co-venturer, Hess, expects to lift some 23 million barrels of oil in the remaining quarters of the year, representing an increase in its initial output for 2022. John Rielly, Hess’ Chief Financial Officer made the disclosure to investors...

In addition to the announcement of three new discoveries on Tuesday, ExxonMobil Guyana bore more good news with its hiking of production capacity at Liza Phase One and scheduled first oil for the Payara project. Liza Phase One The company increased...

As Guyana prepares to receive its first entitlement lift of Unity Gold from the Liza Phase Two development, government expects about US$106 million to be deposited into the Natural Resource Fund from its sale. “The usual lifting entitlement amount of...

SBM Offshore posted footage of the lifting of the first series of topside modules onto the hull of the Prosperity floating production, storage and offloading (FPSO) vessel, on Wednesday. Work on the FPSO for ExxonMobil Guyana’s third development project at...

While the Environmental Protection Agency (EPA) has granted ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) permission to move ahead with its US$10B Yellowtail Project, it has done so with several rigid conditionalities attached. With respect to air management,...

Shell Trinidad and Tobago (T&T), through Shell PLC subsidiary BG International Ltd., announced recently that it started production at the Colibri natural gas field offshore the Twin Island Republic. In a statement, the company explained that ‘Project Colibri’ is a backfill project that is expected to...

Days after government and regulatory approvals were granted for the massive Yellowtail project, Hess Corporation announced its final investment decision on the project with a commitment of US$2.3 billion. This represents the company’s net share of development costs, excluding pre-sanction...

ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), expects the Yellowtail project to be instrumental in helping secure the energy transition, it said as it announced the final investment decision (FID) on Monday morning. “Yellowtail’s development further demonstrates the...

The Yellowtail project will cost US$10 billion to develop, the Ministry of Natural Resources said, in a long-awaited announcement of its approval. This represents the largest investment ever made in the history of Guyana. The Liza Phases One and Two,...