Sunday, May 29, 2022

Discoveries

Exxon is 5 for 5 offshore Guyana with success rate now exceeding 90%

ExxonMobil has entered the new year with huge success off the coast of Guyana, delivering five discoveries from five attempts at hitting commercial crude in the block that keeps on giving. The company also increased its recoverable resource estimate...

Oil Minister says “thriving future for generations ahead” as Exxon announces three new discoveries

With three new discoveries announced by oil major ExxonMobil in Guyana’s prolific Stabroek Block, Minister of Natural Resources Vickram Bharrat sees a thriving future for generations ahead. Subsequently, after Exxon’s announcement, Bharrat shared that the new discoveries add to “Guyana’s growing legacy”...

Exxon triple discoveries catapult Guyana resource base to almost 11 billion barrels

ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to...

Petrobras makes new oil find in Campos basin

Brazilian state-run oil company Petrobras recently announced the discovery of a new accumulation of oil in the pre-salt of the southern part of the Campos Basin in a pioneer well in the Alto de Cabo Frio Central block. The Well 1-BRSA-1383A-RJS (Alto de Cabo...

Global oil and gas discoveries on track to hit lowest in 75 years, says Rystad Energy

Norway based energy research and business intelligence company Rystad Energy says global oil and gas discoveries are on track to hit their lowest full-year level in 75 years should the remainder of December fail to yield any significant finds. As...

Guyana could find more oil, and closer to shoreline

Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one official saying that the hydrocarbon resources found at the Stabroek block so far is just...

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until 1916 that the first significant effort to locate petroleum was undertaken. "In the 1700s several inconsequential...

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them discover then recover massive amounts of crude oil locked beneath the floor of the Atlantic...

World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes

Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the most prolific offshore oil discovery in recent years off the coast of the...

Guyana Government releases ExxonMobil contract

The Production Sharing Agreement (PSA) between the Government of Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited was released today at a special meeting held at the Ministry of the Presidency in Georgetown, Guyana. The agreement has...

Latest News

Guyana receives GY$1.7B in payments for flaring from ExxonMobil

To date, ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) has flared 17.7B cubic feet of gas via...