Sunday, May 29, 2022

Discoveries

Partners fast-tracking second Liza FPSO

ExxonMobil is fast-tracking a second floater project for Guyana’s Liza area development amid suggestions that the next unit will be significantly larger than the 120,000-barrels-per-day Liza-1 unit. According to an Upstream report, plans for a second floating production, storage and...

Liza 1 discovery was intentionally “downplayed” in lead-up to Guyana elections – former minister

The biggest offshore oil discovery in 2015 and the first of its kind in the South American country of Guyana was intentionally downplayed in the weeks leading up to the country’s May 11, 2015 national elections. While the magnitude of...

Further drilling will determine size of Turbot discovery – ExxonMobil

US super-major ExxonMobil will move to drill a second well on the Turbot discovery next year which will help to determine the volume of oil contained in the reservoir. “We are planning to do an additional well on the Turbot...

Guyana gives ExxonMobil thumbs-up for new discovery

Guyana’s Ministry of Natural Resources said in a statement on Thursday evening that it joins the country’s President, David Granger, and the Guyanese people, in congratulating ExxonMobil and its joint-venture partners Hess and CNOOC Nexen for their latest discovery...

Exxon makes 5th oil discovery offshore Guyana

Exxon Mobil Corporation (NYSE:XOM) announced on Thursday it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot is ExxonMobil’s latest discovery to date in the country, adding to previous discoveries at Liza, Payara, Snoek and...

BREAKING: Exxon discovers more oil at Payara; pushing total to 500 million barrels

ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the estimated gross recoverable resource for...

Repsol discovers massive oil field in Alaska

Spanish oil company Repsol SA has discovered a giant oil field in Alaska, a potential find big enough to help stem production declines in the state. Repsol said two wells drilled this winter with Denver-based partner Armstrong Oil & Gas,...

Global demand for oil could outstrip supply after 2020 unless new investments approved soon

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned...

BP finds 200 million barrels of oil in hidden cache

(Houtson Chronicle) British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological formations that had befuddled oil...

Exxon to carry out exploratory work in newly acquired Kaieteur block, drilling to begin at Liza-4 well

US oil major ExxonMobil will soon begin preliminary exploration work in the Kaieteur block, an area adjacent to the Stabroek block offshore Guyana, which the company recently acquired. Drilling will also commence at the Liza-4 well in the eastern...

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...