Exploration

Exploration

Guyana oil production on track to surpass Newfoundland and Labrador – Rob Strong

OilNOW -
South America’s newest oil producer Guyana is on track to ramp up production to more than 750,000 bpd by 2025 from multiple developments at massive oil fields located off the country’s coast at the 6.6 million acres Stabroek Block. Speaking...
Exploration

Apache second well offshore Suriname looking favourable

OilNOW -
Following a significant discovery at the Maka Central-1 well at Block 58 offshore Suriname, Apache Corp. is now gunning for oil at a second prospect on the block which reports indicate look promising. John J. Christmann IV, CEO and President...
Exploration

Guyana could become 2nd largest producer in Latin America by end of decade

OilNOW -
Guyana could be on course to become the second largest oil producing country in Latin America by the end of this decade, particularly if conditions in neighbouring Venezuela fail to improve and Mexico's decline in output progresses. Oil production in...
Exploration

Not all discoveries are developed, success not guaranteed – Bernstein analyst

OilNOW -
An analyst at private wealth management company, Bernstein, says offshore exploration and production activities, including campaigns in the Guyana-Suriname basin where US oil major ExxonMobil has made 16 discoveries since 2015, remain risky since many projects do not make...
Exploration

One vital corner of oil market is surging despite coronavirus

OilNOW -
(Bloomberg) A closely watched North Sea oil-price indicator is reflecting little of the demand destruction that the coronavirus has wrought on global markets. Brent crude futures for April, the most immediate contract, are trading 61 cents a barrel higher than...
Discoveries

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

OilNOW -
(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them discover then recover massive amounts of crude oil locked beneath the floor of the Atlantic...
Exploration

Stabroek oil bonanza is key driver in Noble contract coverage

OilNOW -
The unprecedented oil discoveries to date and multiple exploration targets that remain on Guyana’s prolific Stabroek Block are driving up the need for more drillships and this is playing a key role in the improvement of contract coverage for...
Exploration

Eco fully funded, drill-ready to pursue light oil prospects at Orinduik

OilNOW -
Eco Atlantic Oil & Gas, junior partner at the Orinduik Block offshore Guyana, says it is drill-ready and fully funded to pursue additional prospects on the block as the search for high quality hydrocarbons continue. In 2019 the company drilled...
Exploration

No spills from offshore oil operations – ExxonMobil

OilNOW -
Photos and video clips published on social media on Thursday showing a dark substance on water just off the coast of Georgetown is not from offshore exploration and production activities, according to a statement from ExxonMobil on its Facebook...
Exploration

Liza Crude going to market 1 to 2 months in advance of production

OilNOW -
Crude being produced at the Liza Phase 1 Development offshore Guyana is being sold one to two months in advance, which is around the same time-frame as a number of competing countries in West Africa. Production started last December at...
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Latest News

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SBM Offshore, Technip Energies to deliver ‘all-electric drive’ FPSO for Suriname’s first deepwater development

SBM Offshore said it has been awarded, in partnership with Technip Energies, contracts for the Gran Morgu field development...

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