Exploration

Discoveries

Guyana is now a major competitive, policy-friendly player in global deepwater arena

OilNOW -
A massive infrastructure transformation and construction boom in South America’s lone English-speaking country are the most visible signs of the nation’s newfound wealth which is being delivered by huge oil fields under development offshore. And the latest World Economic...
Exploration

Exxon focusing on developing oil resources in Guyana; no financial backing in play for border controversy  

OilNOW -
ExxonMobil remains focused on developing the vast hydrocarbon resources offshore Guyana in keeping with the government's objective of moving these projects forward in a timely manner. The U.S. multinational says it is not playing a role in providing financial...
Exploration

Guyana basin should achieve payback in under 10 years at an oil price of US$60-80 – WoodMac

OilNOW -
Analysts have said the significant sums Guyana is set to receive in oil revenue can make the country one of the richest in the world, per capita. The companies producing oil there are also set to receive massive returns...
Exploration

Exxon targeting more crude at Bluefin-1

OilNOW -
ExxonMobil Guyana has commenced exploration drilling operations at the Bluefin-1 well site, situated within the Stabroek Block of Guyana's Exclusive Economic Zone, as announced by Guyana's Maritime Administration Department. This move comes as part of the company's vigorous exploration...
Exploration

Shell, bp consortium set to explore TT deepwater blocks 

OilNOW -
A consortium comprising BP and Shell has inked an agreement with Trinidad and Tobago, greenlighting the exploration of three deepwater blocks—25a, 25b, and 27—for hydrocarbon production. Trinidad and Tobago's Minister of Energy, Stuart Young, confirmed that the cabinet has approved...
Exploration

Fangtooth appraisal program in high gear offshore Guyana

OilNOW -
ExxonMobil is moving to appraise the two discoveries it made earlier this year, Lancetfish-1 and Fangtooth SE-1. Guyana’s Maritime Administration Department announced the drilling activities in notices. The Stena Carron drillship will be utilised to drill Fangtooth SE-1 starting in...
Exploration

Canada-based exploration company targeting ‘multi-hundred million’ payloads at Guyana block   

OilNOW -
A Canada-based oil and gas company is targeting a multi-hundred million barrel stacked pay opportunity at the Orinduik Block, offshore the South American country of Guyana. The exploration company - Eco (Atlantic) Oil & Gas Ltd. - said its...
Exploration

Repsol conducting post drill surveys at Beebei-1 well site

OilNOW -
Kanuku Block operator, Repsol, is conducting environmental surveys at the Beebei-1 well site, according to an August 4 notice by Guyana’s Maritime Administration (MARAD).  It said the exercise which commenced in early August, will conclude by the end of the...
Exploration

Staatsolie boss confident of FID for Suriname’s Block 58 next year; says more resources accumulating

Shikema Dey -
2024 has been confirmed as the timeline for Suriname’s Block 58 Final Investment Decision (FID) signaling a potential start to offshore oil production in the South American country.  That timeline was confirmed to OilNOW by Managing Director of Staatsolie -...
Exploration

OSV Horn Island vessel leading deepwater development at Liza Field

OilNOW -
The OSV Horn Island vessel will be continuing deepwater development at Guyana’s Liza Field located in the offshore Stabroek Block.  A recent notice by the Maritime Administration Department (MARAD) outlined that activities will conclude at the site on December 31.  The...
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NewsOilNOW -

Guyana could issue two licences this year: one for oil and one for gas

The Guyana government has set a target in its 2025 plan to issue two petroleum licenses. According to Vickram...

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