Exploration

Potential for giant oil and gas fields remains greatest on South America’s Atlantic margin

The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...

CGX, Frontera looking to identify ‘higher quality ranked list of prospects’ for Guyana drill campaign

CGX Energy and joint venture partner Frontera Energy are looking to complete a 3D seismic program on the northern section of the Corentye block offshore Guyana during the first half of 2020 that will help to determine best prospects...

Block 58 explorers look to Sapakara for continued success offshore Suriname

Apache and Total, 50-50 partners in Suriname’s Block 58, said their next well – Sapakara West-1 - will test the same-aged upper Cretaceous intervals that brought them success at Maka Central-1, in a separate and distinct stratigraphic feature. Sapakara is...

Apache defies skeptics with major South American oil discovery

(Bloomberg) Apache Corp. proved skeptics wrong with a major discovery off the northeast coast of South America, a hotly anticipated oil target that investors had feared would be another flop for the U.S. producer. The update on the Maka Central-1 well...

Exxon, Hess and CNOOC are 2019 top explorers – Rystad Energy

Continued success offshore the South American country of Guyana is once again playing a major role in the addition of discovered volumes and value creation for US oil major ExxonMobil and its Stabroek Block co-venturers, Hess and CNOOC. “ExxonMobil can...

ExxonMobil acquires over 1.7 million acres offshore Egypt

ExxonMobil said Monday it has secured more than 1.7 million acres for exploration offshore Egypt. “These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look forward...

Gulf of Mexico trails Guyana for most prospective offshore region

US oil major ExxonMobil’s record 14 discoveries in Guyana which amount to more than 6 billion barrels of oil resource has placed the small South American country at the top of the list for prospective offshore regions in the...

BP takes Maersk Drilling for three-well campaign offshore Trinidad

Maersk Drilling has secured a three-well contract for the semi-submersible rig Maersk Discoverer with BP for development drilling at the Matapal project offshore Trinidad and Tobago. Maersk said Monday the contract has an estimated duration of 322 days and is...

SBM Offshore firms up contract with Petrobras for FPSO Sepetiba

SBM Offshore said on Wednesday it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba (formerly known as Mero 2). These contracts follow the signing of the binding Letter of...

Chevron to plug US$20 billion into 2020 capital, exploration budget

Chevron Corporation on Wednesday announced a 2020 organic capital and exploratory spending program of $20 billion. The 2020 budget supports a robust portfolio of upstream and downstream investments, highlighted by the company’s world-class Permian Basin position, its major capital...

Latest News

Guyana signs US$422M transmission deal ahead of GtE project start-up  

Months before the country’s Gas-to-Energy (GtE) project is set to deliver first power, Guyana has signed US$422 million in...