Exploration

Exploration

Oil contracts signed after Exxon PSA will be reviewed – Guyana Opposition Leader

OilNOW -
Should the opposition People’s Progressive Party Civic (PPP/C) win the upcoming elections in Guyana, efforts will be made to review contracts signed after the ExxonMobil Production Sharing Agreement (PSA) in order to extract more revenue for the South American...
Exploration

Fastest production ramp-up ever undertaken on track for first oil

OilNOW -
Plans are moving along rapidly in South America’s newest oil and gas hotspot for the start of oil production, now just months away. The arrival of the Liza Destiny FPSO in Guyana was announced on August 29, paving the...
Exploration

T&T exploration in decline as Guyana fast-becoming regional centre of attraction

OilNOW -
As petroleum exploration activities offshore Guyana intensify with more than six billion barrels of oil already discovered by ExxonMobil and other explorers gunning for more, neighbouring Trinidad and Tobago (T&T) is beginning to feel the effects, losing human and...
Exploration

S-Cube algorithm helped Tullow strike oil at Guyana well

OilNOW -
(Offshore Energy) Tullow Oil has discovered oil at its Jethro-1 well in Guyana using the XWI algorithm developed by technology company S-Cube. The XWI algorithm allows entirely data-driven earth model building with more automation and accuracy. The cloud solution helps...
Exploration

IEA sees oil supply glut in 2020

OilNOW -
Efforts to re-balance the oil market could be in vain after the International Energy Agency (IEA) cut its oil demand growth forecasts for both 2019 and 2020 and pointed to strong non-OPEC supply driven by the US, Norway and...
Exploration

Jethro oil deposit is like a 15-story high building stretching 20 km wide – Holzman

OilNOW -
Fifteen stories high and over 20 km wide, full of oil. That is the description given by Gil Holzman, Chief Executive Officer and Co-founder of Eco (Atlantic) Oil and Gas - junior partner in the 1800 km2 Orinduik Block...
Exploration

Orinduik oil strike sparks renewed call for legislation to be urgently enacted

OilNOW -
Following the announcement on Monday by Tullow Oil that it had made its first discovery offshore Guyana, private sector stakeholders have renewed their calls for the requisite legal and regulatory framework to be urgently put in place if the...
Exploration

Yellowtail, Tilapia are biggest ‘high-impact’ oil discoveries so far for 2019

OilNOW -
ExxonMobil’s discoveries at the Yellowtail and Tilapia wells in the Stabroek Block offshore Guyana were the largest made in the first half 2019. Westwood Global Energy Group, in a report published on August 12, said high-impact exploration drilling activity increased substantially...
Exploration

Tullow strikes oil offshore Guyana

OilNOW -
Oil has been discovered outside the prolific Stabroek Block offshore the South American country of Guyana. Tullow Oil announced on Monday that Evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises...
Exploration

Substantial oil resources to be unlocked in Norway through increased recovery projects

OilNOW -
Increased recovery projects in Norway will unlock substantial oil resources, driven predominantly by the majority state-owned Equinor, says GlobalData, a leading data and analytics company. Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, comments: “Field expansion projects in Norway...
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Hull for Guyana’s Jaguar FPSO arrives at Singapore yard

SBM Offshore said the multi-purpose floater (MPF) 5 has arrived at the Seatrium yard in Singapore. The hull is...

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