Wednesday, December 7, 2022

Exploration

BP takes Maersk Drilling for three-well campaign offshore Trinidad

Maersk Drilling has secured a three-well contract for the semi-submersible rig Maersk Discoverer with BP for development drilling at the Matapal project offshore Trinidad and Tobago. Maersk said Monday the contract has an estimated duration of 322 days and is...

SBM Offshore firms up contract with Petrobras for FPSO Sepetiba

SBM Offshore said on Wednesday it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba (formerly known as Mero 2). These contracts follow the signing of the binding Letter of...

Chevron to plug US$20 billion into 2020 capital, exploration budget

Chevron Corporation on Wednesday announced a 2020 organic capital and exploratory spending program of $20 billion. The 2020 budget supports a robust portfolio of upstream and downstream investments, highlighted by the company’s world-class Permian Basin position, its major capital...

Maximising local content, developing Guyanese workforce are top priorities – SBM Offshore

SBM Offshore says it remains committed to building the capacity of its Guyanese workforce as part of plans to become fully integrated in the South American country. These objectives were emphasised at the second annual Guyana International Petroleum Exhibition (GIPEX),...

Guyana on verge of first oil and new era of hope

Barring unfavourable weather conditions or other factors that could result in a delay, the South American country of Guyana could now be just weeks away from producing its first barrel of oil, thereby ushering in a new era of...

Apache to drill deeper at Maka-1 wildcat offshore Suriname

Apache Corporation (NYSE, Nasdaq: APA) said Monday upon reaching a depth of approximately 6,200 meters at the Maka Central - 1 well offshore Suriname at Block 58, the company elected to conduct various testing activities in two distinct Upper Cretaceous...

Tullow’s final drill target at Orinduik crucial to campaign

(Petroleum Economist) The final drilling target of the year for Anglo-Irish independent Tullow has become more pivotal following the company’s revelation that crude from its offshore Guyana discoveries is heavier and more sulphurous than expected. Tullow’s share price had been...

After peaking in 2020 offshore oil will face slowdown

(Bloomberg) Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slowdown that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico...

Bolivia crisis hits Shell, Total and Repsol

(Bloomberg) -- Natural gas exploration by global oil companies in Bolivia, key to growing the country’s sagging economy, has stopped amid an escalating political crisis that has left the Andean nation rudderless. Royal Dutch Shell Plc, Total SA and Repsol...

Iran says oil field found with more than 50 billion barrels

(Associated Press) Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it...

Latest News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking...