Guyana falls within the Golden Triangle of mega oil reserves along with countries such as Brazil, Venezuela and Nigeria, and producers in the US Gulf of Mexico.
Deepwater drilling used to be prohibitively expensive, but high oil prices in 2007...
Guyana topped the oil discovery charts again in 2019 with the Liza field coming onstream in December and another billion barrels added in the ExxonMobil operated Stabroek licence with some more gas also. The resource estimate for Stabroek was again...
Apache Corporation and Total S.A have spudded their third well offshore the South American country of Suriname. The two companies each hold 50% interest in Block 58 where they have made 2 discoveries to date.
In the second half of...
Touchstone Exploration said on Monday after markets closed that it had inked a deal for the sale of natural gas and gas liquids produced from the Ortoire block in Trinidad and Tobago.
The Canada-based oil and gas explorer said it had signed...
As the global economy tightens under severe pressure brought on by the COVID-19 pandemic, demand for oil has plummeted to an all-time low creating a supply glut that has seen prices plummet as the world runs out of storage...
The devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020. A Rystad Energy analysis shows that global E&P...
BP's first quarter profit has dived by two thirds after the global coronavirus crisis hit demand for oil.
The oil giant warned it was facing an "exceptional level of uncertainty" after a sharp reduction in the need for its products.
Lockdowns...
Dutch floater specialist SBM Offshore on Monday announced the sailaway of the last two modules for the Turret Mooring System, destined for Singapore for integration into the hull of Equinor’s Johan Castberg FPSO. This milestone represents the successful completion...
Malaysian oil and gas company Petroliam Nasional Bhd (Petronas) is said to have reduced the number of its fully active rigs from 18 to four since oil price began dropping late last year.
According to The Straits Times, the national...
Energy market research and intelligence company Westwood says exploration plans are being redrawn and the well count is expected to drop globally by as much as 35% on 2019 levels as a result of the double whammy of the...
