Exploration

Exploration

World Bank, Guyana ink US$44 million Human Capital Development pact

OilNOW -
The World Bank and Guyana’s Government officially signed an agreement on Friday for a US$44 million Human Capital Development Project to improve access as well as learning conditions in secondary education. It is also intended to improve access to...
Exploration

Regulators are present on both FPSOs doing real-time monitoring – Bharrat

OilNOW -
The capabilities of key agencies tasked with monitoring the offshore oil and gas operations in Guyana have been strengthened over the last two years and work is ongoing to further build capacity as production ramps up in the new...
Exploration

Repsol hits water-bearing targets at Guyana well

OilNOW -
Drilling operations at the Beebei-Potaro exploration well, drilled in the Kanuku licence, offshore Guyana, have been completed. The well encountered good quality reservoir in the primary and secondary targets but both targets were water-bearing. The Noble Regina Allen rig drilled...
Exploration

Westwood names Guyana, Namibia among high-impact exploration successes

OilNOW -
Energy market research and intelligence firm, Westwood Global Energy, has named Guyana and Namibia among oil exploration and production jurisdictions where high impact exploration has proven successful. “38 high-impact exploration wells were drilled in the first half of 2022, similar...
Exploration

Eco says Canje Block remains “highly prospective” ahead of 12-well campaign

OilNOW -
Eco-Atlantic has set its sights on raking in big wins from Guyana’s offshore Canje Block, as the operator ExxonMobil gears up for a 12-well exploration campaign. The company has no direct stake in the Canje Block but holds 7.3% of...
Exploration

Exxon to spend more than US$100 billion through 2027 to meet world’s energy needs

OilNOW -
ExxonMobil expects to invest over US$20 billion annually to help meet the world’s growing energy needs through 2027. That's more than US$100 billion in the next five years. This will amount somewhere between US$21 billion and US$24 billion this...
Exploration

100M-barrel Jethro well could be Guyana’s first oil production project outside Stabroek Block

OilNOW -
The fallout from Russia's invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners - Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy - plan to revisit the commercialisation potential of the Jethro...
Exploration

Exxon records $17.9 billion Q2 earnings as discoveries mount in Guyana

OilNOW -
ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...
Exploration

South America drilling activity to peak in 2022: Guyana, Brazil driving uptick – Rystad

OilNOW -
Notwithstanding a major slowdown in 2020 because of the pandemic’s global demand destruction, drilling and completion activities in South America are expected to bounce back significantly this year. The driving forces will be increased activities in Guyana and neighbouring Brazil,...
Exploration

Orinduik partners to submit drilling commitments by end of third quarter

OilNOW -
Tullow Oil is preparing to submit drilling commitments to the Government of Guyana for the Orinduik Block. In a release shared by Orinduik's 15%-stakeholder, Eco-Atlantic Oil & Gas, Dr. Michael Green of Align Research said progress is being made on...
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SBM Offshore expects US$1.9 billion in EBITDA this year, driven by Guyana FPSO sales

SBM Offshore has updated its 2024 guidance for earnings before interest, taxes, depreciation and amortization (EBITDA)to US$1.9 billion, representing...

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