Friday, January 21, 2022

Exploration

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

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...

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

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...

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

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,...

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

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...

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

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...

Trinidad opens competitive bid round for 17 deep water blocks

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...

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

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...

Explorer believes eastern portion of Orinduik block can deliver significant volumes

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...

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

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...

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

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...

Latest News

Tristar appoints Joel Bhagwandin as Managing Director, says local content is key focus

Tristar has appointed Joel Bhagwandin as its Managing Director. The company said Mr. Bhagwandin, who has held positions in...