Exploration

Exploration

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

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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

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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

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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

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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...
Exploration

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

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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

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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

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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

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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

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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

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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...
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DSIC launches Errea Wittu FPSO for ExxonMobil’s Stabroek Block

Chinese contractor Dalian Shipbuilding Industry Company (DSIC) has launched the Errea Wittu floating production, storage, and offloading (FPSO) vessel,...

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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