Exploration

Exploration

Repsol conducting survey at Guyana block ahead of 2022 drill campaign

OilNOW -
Spanish oil company Repsol is moving to conduct a geotechnical survey at the Kanuku Block offshore Guyana where it plans to drill another exploration well in 2022. This exercise will incorporate the use of the PSV MIA and will take...
Exploration

Giant prospects in Guyana will be at forefront of 2022 exploration

OilNOW -
U.K. based consultancy group Wood Mackenzie says the exploration sector will accelerate its repositioning for the energy transition in 2022 and this will see advantaged resources being targeted to replace maturing legacy assets. Conventional exploration will follow the disciplined path...
Exploration

CGX spokesperson says maritime notice inaccurate; drilling at Kawa-1 continues

OilNOW -
A spokesperson for CGX Energy says a notice published by Guyana’s Maritime Administration Department (MARAD) last week stating that demobilization of exploration drilling operations at the Corentyne Block is underway, is inaccurate, since the drill campaign at its Kawa-1...
Exploration

Demobilization activities underway at CGX Kawa well

OilNOW -
Guyana’s Maritime Administration Department said in a notice dated December 24 that CGX Energy is moving forward with demobilization of exploration drilling operations at the Corentyne Block where it is hoping to hit pay at the Kawa-1 prospect. The demobilization...
Exploration

Fangtooth drilling results expected early next year, says Stabroek Block co-venturer

OilNOW -
Results from drilling operations at the Fangtooth-1 prospect located at the 6.6 million acres Stabroek Block offshore Guyana is expected in early 2022, a co-venturer on the license has confirmed. “Fangtooth’s results are expected sometime in the second quarter. We’re...
Exploration

Analysis show US$525 billion in upstream investments will be needed annually this decade

OilNOW -
Even as the momentum surrounding de-carbonization continues to increase, a recent industry analysis by IHS Markit and the International Energy Forum (IEF) has concluded that demand for fossil fuels is nearing pre-pandemic levels, as such, US$525 billion would be...
Exploration

Deepwater plays in giant prospects like Guyana to reign supreme in 2022 rebound – Wood MacKenzie

OilNOW -
While climate change pledges from governments across the world will put some degree of pressure on the oil and gas industry, the upstream sector will still rebound come 2022 says global energy research and consultancy group, Wood Mackenzie. More specifically,...
Exploration

“The numbers are incredible” – Exxon says of Guyana mega discoveries

OilNOW -
With an average volume of 300 million barrels of oil equivalent per discovery and a record 80 percent success rate, the pioneering oil fields offshore Guyana, particularly at the prolific Stabroek Block, continue to deliver big pay with low...
Exploration

Experts say more drilling needed as Guyana now on course to help fill major supply gap

OilNOW -
Organizations such as the Paris-based International Energy Agency (IEA) have recommended that there be no new petroleum exploration projects if the world is to avoid more catastrophic effects of climate change. But another report by two recognized organizations is...
Exploration

Trinidad opens competitive bid round for 17 deep water blocks

OilNOW -
The government of Trinidad and Tobago recently announced the opening of its deep-water competitive bid round for the fiscal year 2022. The Ministry of Energy and Energy Industries (MEEI) which is responsible for the overall management of the oil, gas...
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SBM Offshore expects US$1.9 billion in earnings this year, driven by Guyana FPSO sales

SBM Offshore has updated its 2024 earnings guidance to US$1.9 billion, representing a 46% increase from the previous US$1.3...

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