Friday, January 21, 2022

Exploration

Exxon looking to hit pay at Patwa-1

Patwa-1 is the latest prospect to be targeted by ExxonMobil at the Stabroek Block offshore Guyana where over 10 billion barrels of oil equivalent resources have already been found. OilNOW understands the Noble Sam Croft will be engaged in drilling...

Guyana-Suriname Upper Cretaceous play delivered the goods in 2021

Frontier exploration drilling fell to its lowest level since 2008 with only 15 frontier wells being completed and only one making a potentially modest sized commercial discovery according to a report released this week by energy market research and...

2022 Guyana bid round will open more acreage in prolific basin

By the third quarter of this year, Guyanese authorities plan to auction the nation’s remaining offshore oil blocks to international oil companies (IOC) marking a shift from the country’s earlier awards of production sharing contracts (PSCs) based on direct...

Lau Lau-1 is Exxon’s largest discovery by depth in Guyana; almost three times the height of Marriott Hotel

To date, there have been more than 20 major discoveries in the ExxonMobil-operated Stabroek Block offshore Guyana. The largest of them by depth is Lau Lau-1 which was announced on January 5 by the American multinational. The Lau Lau-1 well...

Guyanese inspectors will begin testing crude produced offshore from this month

The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...

So far only Stabroek has delivered the goods…what’s next?

High impact wells will continue to dominate global offshore exploration this year with mainly the big prospects being of significant interest to oil majors and larger National Oil Companies (NOC). The Guyana-Suriname Basin remains at the top of the...

US Gulf of Mexico to hit new production record this year

By Ed Crooks - Vice-Chair, Americas, Wood Mackenzie Platforms coming on stream will take US deepwater output to a record high in 2022. But new entrants have been wary of moving into the region. When British cartographers mapped what was to...

Maersk Drilling awarded one-well extension for Suriname campaign

TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100...

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana

Brazil's state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana. According to Petrobras reservoir executive...

Analysis points to massive Guyana basin oil resources, huge production estimates

An analysis written by The Value Portfolio, published on crowd-sourced content service provider Seeking Alpha says Guyana is a game-changer and is defining a new era for ExxonMobil with current discovered assets touching almost 11 billion barrels stretched across...

Latest News

Will these pillars support Guyana’s oil industry?

By Dr. Lorraine Sobers - OilNOW Guyana is the steward of astounding natural resources, luscious rainforest, gold, diamond, bauxite and...