Exploration

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...
Exploration

Eni’s new discovery offshore Mexico could contain up to 300 million barrels of oil

OilNOW -
Eni on Monday announced a discovery at the Saasken Exploration Prospect offshore Mexico. The company said preliminary estimates indicate that the discovery may contain between 200 and 300 million barrels of oil. The Saasken Exploration Prospect is located in Block...
Exploration

Liza field leading investments at prolific Stabroek Block

OilNOW -
Capital expenditure by project offshore Guyana sees the Liza field at the 6.6 million acres Stabroek Block leading the pack through 2030 having already surpassed US$3 billion in investments for 2019. “The 2015 Liza find has completely rewritten the script...
Exploration

More disappointment for Tullow with dry hole offshore Peru

OilNOW -
Tullow Oil plc (Tullow) announced on Monday that the Marina-1 exploration well drilled on the Z-38 licence offshore Peru reached Total Depth and has not encountered significant hydrocarbons. The well tested the La Cruz and Mal Pelo formations where minor...
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U.S. Bank confirms US$526M loan to help Guyana slash 460,000 tonnes of emissions annually

The Export-Import Bank of the United States (EXIM) confirmed that its Board approved a $526 million loan to Guyana...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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