Subsea boosting, which is the most mature technology within the subsea processing toolbox, can add millions of barrels to recoverable reserves and Guyana has been identified as one of the top 10 countries where such an intervention can be adopted.
Norway-based...
The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the coronavirus pandemic and the accelerating energy transition – unless exploration speeds up significantly and...
ExxonMobil, Shell and CNOOC are expected to be the most active explorers by the end of 2021 with a significant portion of the offshore activity taking place in Guyana where multiple prospects remain on the prolific Stabroek block and...
The search for oil in key hotspots across the globe is expected to continue in earnest this year and this will see approximately 38 High Impact Wells (HIWs) being drilled, according to American-British information provider, IHS Markit.
Jack Rivers, Director...
Guyana and Suriname remain two major hotspots for exploration activity in 2021 with a number of key wells to watch as the Americas take the lead in the hunt for hydrocarbon resources this year.
Westwood Global Energy Group said in...
Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one official saying that the hydrocarbon resources found at the Stabroek block so far is just...
A Wood Mackenzie analysis from Andrew Latham, Kristina Beadle, and David Parkinson
The global exploration industry was in a good place at the start of 2020, having recovered from a decade of high costs and poor monetisation. In this article Wood Mackenzie shares...
Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...
By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as the 1970s, had already been drilled by other companies on the coastal shelf outside the...
Bahamas Petroleum Company has spudded the Perseverance #1 well in The Bahamas, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels.
The company said on Monday the well was drilled on December 20 at...
