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Monday, November 23, 2020

Exploration & Production

Liza Phase 1 production now averaging 105,000 bpd, peak output expected by December –...

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Gross production from the Liza Phase 1 Development at the Stabroek Block offshore Guyana has been averaging 105,000 barrels of oil per day in the last few weeks with a full ramp up in...

Shell looking to strike it big on ‘Golden Lane of Oil in the Guianas’...

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Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to...

Deepwater projects are big winners as average breakeven price drops to US$50 per barrel...

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A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the...

Guyana has at least 10 years of intense exploration drilling, biggest window of opportunities...

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New oil producer Guyana will see the highest level of exploration activities unfolding over the next ten years, which, according to one official with years of experience in the industry, presents the best window...

Guyana production set to hit 1.4 million b/d in mid-2030s with potential for even...

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Oil production in Guyana is expected to rapidly increase in the coming years as more developments are sanctioned, and floating production storage and offloading units (FPSO) come online.  Norway-based Rystad Energy expects this output...

Guyana set to become region’s ‘most exciting investment destination’ – President tells business group

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With a burgeoning petroleum industry, where over 8 billion barrels of oil equivalent resources have been discovered so far by U.S. oil major ExxonMobil, Guyana is inviting foreign investors to play a major role...

Guyana, Suriname entering high-stakes competition for development of deepwater resources

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Five years after Guyana’s first oil discovery and just weeks after production started last December, Suriname experienced a game-changer with its first offshore discovery at Maka Central-1. This was closely followed by...

Petronas spuds first well offshore Suriname

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Malaysian oil and gas company Petronas has spudded its first well - Sloanea-1 - offshore Suriname at Block 52 where it has farm-down 50% of its interest to US oil major ExxonMobil. Denmark-based drilling rig operator...

CGX long overdue for works on offshore blocks, has not drilled in years –...

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As Guyana forges ahead with the development of its offshore petroleum resources which exceed eight billion barrels of oil equivalent at the prolific Stabroek block, there are, and understandably so, a number...

Guyana’s history with oil dates back centuries

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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...