The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at the Redtail area, back in the adjacent Stabroek block, for an exercise that is set...
Speaking just days before the results from the Tanager-1 prospect was announced, John Hess, CEO of Hess Corporation, a 15% stakeholder in the Kaieteur Block, said it will take several wells for the co-venturers to define the opportunity in...
The results from the Tanager-1 exploration well at the Kaieteur Block offshore Guyana announced on Tuesday brings back into focus the risky nature of exploration, even in a basin where the success rate has been well above 90 percent.
Since...
Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million acres Stabroek Block. The Liza Destiny FPSO, built and operated by SBM Offshore, arrived in...
Most governments go to a lot of effort to distance themselves as much as possible from exploration risk. This can be done through management of block sizes, relinquishment, and ringfencing, discussed in turn below.
Block size and configurations
Block size...
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the transformation of these neighbouring countries which are now moving to develop their deepwater hydrocarbon resources....
Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to strike it big on the...
New oil producer Guyana will see the highest level of exploration activities unfolding over the next ten years, which, according to one official with years of experience in the industry, presents the best window of opportunity for the people...
Oil production in Guyana is expected to rapidly increase in the coming years as more developments are sanctioned, and floating production storage and offloading units (FPSO) come online. Norway-based Rystad Energy expects this output to hit peak in the...
Five years after Guyana’s first oil discovery and just weeks after production started last December, Suriname experienced a game-changer with its first offshore discovery at Maka Central-1. This was closely followed by two other discoveries – Sapakara West-1 and...
