Exploration

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...
Exploration

Most competitive deepwater projects will be those with shortest development cycle times – IHS Markit

OilNOW -
From discovery in 2015 to production in 2019, the Liza Phase 1 development offshore Guyana is considered to be one of the fastest deepwater project ramp-ups in the industry’s history. London–based IHS Markit said in a report this month...
Exploration

BP halts output at North Sea ETAP platform after power failure

OilNOW -
(Reuters) - BP halted production at its ETAP platform, which connects seven oil and gas fields in the British North Sea with the Forties Pipeline System and the CATS gas terminal, after a problem with its power generation system,...
Exploration

Around 25 more prospects remain at Stabroek with further upside to 8 billion boe estimate

OilNOW -
With 16 discoveries made so far at the Stabroek Block offshore Guyana, multiple exploration prospects remain in play that could push the resource estimate even higher than the most recent update released by ExxonMobil in January. ExxonMobil has raised the...
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Chinese Wison New Energies contracted to study floating liquefied natural gas facility at Suriname’s Block 52

Wison New Energies -  a leading provider of clean energy technology and solutions headquartered in Shanghai - has...

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