Exploration

Exploration

Opposition party appears to have won, incumbent yet to concede but O&G activities will progress – Fitch Solutions

OilNOW -
Political uncertainty in Guyana will have a limited impact on the ongoing oil and gas development projects in the South American country although the oil price rout and fall in global oil and gas investments could delay exploration and...
Exploration

Heavy oil at Orinduik similar to North Sea, Gulf of Mexico commercial crude

OilNOW -
The heavy oil discovered in 2019 at the Orinduik block offshore Guyana is similar in quality to crude being produced and commercialized in several parts of the world, including the US Gulf of Mexico, North Sea and Brazil’s Campos...
Exploration

Total deploys oil rig to South Africa for rare frontier drilling

OilNOW -
(Bloomberg) –Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the...
Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

OilNOW -
The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...
Exploration

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

OilNOW -
Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among just a few countries that recorded success during the period. Rystad Energy says this represents the...
Exploration

Norway tax relief to cut breakevens by 40%, boosting the country’s rig demand while the UK’s plunges

OilNOW -
A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...
Exploration

World oil resources take 282 billion barrels hit

OilNOW -
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil...
Exploration

Explorers forging ahead in one corner of South America deepwater

OilNOW -
Oil majors and National Oil Companies have been left with no choice but to re-assess exploration spend in 2020 as the price of oil plummeted forcing shut-ins and lay-offs across the industry where conventional exploration spend had been set...
Exploration

ExxonMobil back to full drill capacity at Guyana’s Stabroek Block

OilNOW -
Following a slowdown in drill operations offshore Guyana due to COVID-19 related measures, ExxonMobil is now back to full drill capacity at the 6.6 million acres Stabroek Block where it has so far discovered more than 8 billion barrels...
Exploration

Supercomputers, high-speed internet key to operating oil fields

OilNOW -
Developing energy requires a big toolbox. It relies on detailed geological surveys to find the oil and gas, high-performance drilling platforms to access the reservoirs and, finally, the ability to transport the crude or natural gas responsibly. US oil...
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Saipem, TechnipFMC hired for subsea work on Block 58 development

Saipem and TechnipFMC said they were hired to undertake subsea work in support of the first oil development offshore...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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