Wednesday, December 7, 2022

Exploration

With nine Guyana discoveries so far, 2022 marks best exploration year for Stabroek co-venturers

With two new discoveries announced on Wednesday, 2022 is being referred to as the best exploration year in Guyana for the ExxonMobil-led co-venturers. Exxon has a 45% stake in the 6.6 million acres Stabroek Block, with Hess Corporation holding 30% and...

Exxon conducting more drilling operations at Fangtooth, looking to increase pay

Drilling operations are set to continue at the Fangtooth reservoir in the Stabroek Block offshore Guyana. Operator of the block, ExxonMobil, is utilizing the Stena Carron rig for this latest operation. OilNOW understands the well site is situated approximately 100.8...

Orinduik partners to target exploration well early 2023 – Eco Atlantic

The partners in the Orinduik Block offshore Guyana are targeting an exploration well in early 2023, according to a report from 15% stakeholder, Eco Atlantic Oil & Gas. This well is expected to be drilled in the second renewal period...

Guyana’s oil-related foreign direct investments were US$4.4 billion in 2021 – Report

In 2018, Guyana’s rapidly expanding hydrocarbons sector paved the way for significant capital inflows, accounting for 28.8% of Gross Domestic Product (GDP). This was noted in a report prepared by the International Monetary Fund (IMF). The financial institution was pleased...

Guyana remains highly competitive as exploration shrinks globally

The small South American country of Guyana, unknown to the world of oil and gas just seven years ago, is now one of the most active regions globally even as companies opt for less risk which is seeing a...

Guyana’s first oil block auction: What to expect

All eyes will be on Guyana come September when the country opens its first offshore bid round. This will be a major step for Guyana, a country that has never handed out oil licenses through a competitive process. Oil and...

Maersk Resolute rig secured for additional five-well drilling with Petrogas in Dutch North Sea

Petrogas E&P Netherlands B.V. has secured Maersk Drilling’s harsh environment jack-up rig ‘Resolute’ for an additional five-well drilling work scope, amending a previous agreement. An option included in the original contract will be replaced by the newly entered five-well contract,...

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues

Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...

Staatsolie set to spend US$1.5B through 2027 with major focus on offshore development

From 2022 through 2027, Suriname’s state oil company, Staatsolie, plans to expend an estimated US$1.5 billion as part of its Investment Program, the bulk of which will be for participation in offshore development. In its updated Strategic Roadmap, Staatsolie noted too that the...

APA hoping for jackpot 17 miles north of Maka discovery offshore Suriname

Following a successful drill campaign offshore Suriname at Baja-1 in Block 53, APA Corporation will now be turning its attention to the Awari exploration prospect, located around 17 miles north of the Maka discovery at Block 58. TotalEnergies operates Block...

Latest News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking...