Wednesday, August 10, 2022

Exploration

IEA sees oil supply glut in 2020

Efforts to re-balance the oil market could be in vain after the International Energy Agency (IEA) cut its oil demand growth forecasts for both 2019 and 2020 and pointed to strong non-OPEC supply driven by the US, Norway and...

Jethro oil deposit is like a 15-story high building stretching 20 km wide – Holzman

Fifteen stories high and over 20 km wide, full of oil. That is the description given by Gil Holzman, Chief Executive Officer and Co-founder of Eco (Atlantic) Oil and Gas - junior partner in the 1800 km2 Orinduik Block...

Orinduik oil strike sparks renewed call for legislation to be urgently enacted

Following the announcement on Monday by Tullow Oil that it had made its first discovery offshore Guyana, private sector stakeholders have renewed their calls for the requisite legal and regulatory framework to be urgently put in place if the...

Yellowtail, Tilapia are biggest ‘high-impact’ oil discoveries so far for 2019

ExxonMobil’s discoveries at the Yellowtail and Tilapia wells in the Stabroek Block offshore Guyana were the largest made in the first half 2019. Westwood Global Energy Group, in a report published on August 12, said high-impact exploration drilling activity increased substantially...

Tullow strikes oil offshore Guyana

Oil has been discovered outside the prolific Stabroek Block offshore the South American country of Guyana. Tullow Oil announced on Monday that Evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises...

Substantial oil resources to be unlocked in Norway through increased recovery projects

Increased recovery projects in Norway will unlock substantial oil resources, driven predominantly by the majority state-owned Equinor, says GlobalData, a leading data and analytics company. Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, comments: “Field expansion projects in Norway...

Liza development drilling, installation 70% complete

Drilling of the development wells for the Liza Phase 1 project and installation of subsea equipment are 70 percent complete as the South American country of Guyana forges ahead to first oil now just months away. “Drilling of the Phase...

Stabroek resources now exceed 6 billion barrels – Hess

Gross resources at Guyana’s Stabroek Block now exceed 6 billion barrels of oil equivalent and potential for future multi-billion-barrel discoveries remain high. Speaking on its Q2 2019 earnings call on Wednesday, CEO of Hess corporation, John Hess, said the estimated...

Eco Atlantic closes financial year with strong balance sheet amid Guyana prospects

Eco (Atlantic) Oil & Gas Ltd (AIM: ECO, TSX-V: EOG) announced Tuesday that it has ended the financial year with cash and cash equivalents of CAD 25.0 million. As of 31 March 2019, Eco had total assets of CAD...

Guyana says Qatar Petroleum farm-in ‘substantially unclear’

Hours after Qatar Petroleum announced that it had entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana, the country’s energy director told reporters the deal remains ‘substantially unclear’ and...

Latest News

Transocean nets US$1.2 billion in drilling contracts for Brazil, Gulf of Mexico

Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling...