Exploration

Exploration

Exxon has found an average of 1.7 billion barrels of oil per year in Guyana since 2015

OilNOW -
It was highlighted at the Offshore Technology Conference in August this year that exploration in the Guyana-Suriname Basin has been a decades-long endeavor, including technical challenges and a lengthy history of drilling with no offshore success prior to the...
Exploration

Explorer believes eastern portion of Orinduik block can deliver significant volumes

OilNOW -
A junior partner in the Guyana basin says prospects in the offshore acreage remain highly favourable with the eastern section of the 1800km2 Orinduik Block set to potentially deliver significant volumes, the biggest yet outside of the prolific Stabroek...
Exploration

Recent Stabroek discoveries delivered extraordinary sand quality, says co-venturer with 30% stake

OilNOW -
The most recent string of discoveries made this year at Guyana’s Stabroek Block are being recognized for their significant volumes and sand quality. They’ve also played a key role in ramping up the estimated gross recoverable resources to 10...
Exploration

Hess closing Guyana investments for 2021 at US$750 million; US$1 billion budgeted for 2022

OilNOW -
Hess Corporation, one of the co-venturers on the prolific Stabroek block, announced last week that it will close 2021 spending on its Guyana development at US$750M. Going into 2022, Hess’ Executive Vice President and Chief Financial Officer John Rielly said that...
Exploration

Exxon moving forward with drilling operations at Tripletail-2, Fangtooth-1

OilNOW -
ExxonMobil is moving ahead with the search for more hydrocarbons offshore Guyana where it has already found approximately 10 billion barrels of oil equivalent resources since making its first world-class discovery in 2015 at the Liza field. The Noble Don...
Exploration

Liza Unity FPSO to develop approximately 600 million barrels of oil – ExxonMobil

OilNOW -
With the arrival of Liza Unity floating, production, storage and offloading (FPSO) unit, Guyana’s oil production is expected to triple by 2022 as the vessel is set to develop approximately 600 million barrels of oil. ExxonMobil Guyana in a statement...
Exploration

Israeli company Ratio Petroleum obtains exploration permit off Dakhla

OilNOW -
Israeli oil and gas exploration company Ratio Petroleum Partnership on September 24 signed an agreement with the National Office for Hydrocarbons and Mines (Onhym) giving exclusive rights to research and explore gas or oil deposits in the Atlantic block...
Exploration

Guyana government applauds ‘25 viable discoveries’, says local content remains key

OilNOW -
The Guyana government said on Thursday the latest oil discovery announced by ExxonMobil at the Cataback-1 well further enhances the country’s offshore potential, and that it is working to ensure Guyanese enjoy maximum benefits from the rapidly growing hydrocarbon...
Exploration

High quality crude, big investments propelling Guyana as key global player

OilNOW -
The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
Exploration

Disappointment at Suriname’s Block 58 as Keskesi fails to deliver commercial oil

OilNOW -
APA Corporation announced on Wednesday the results from appraisal drilling at Keskesi South-1 on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies, the operator, holding a 50% working interest. Keskesi South-1, drilled...
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Latest News

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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...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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