Exploration

Exploration

Guyana says Qatar Petroleum farm-in ‘substantially unclear’

OilNOW -
Hours after Qatar Petroleum announced that it had entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana, the country’s energy director told reporters the deal remains ‘substantially unclear’ and...
Exploration

Qatar Petroleum farms into Guyana oil blocks

OilNOW -
Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore the South American country of Guyana. Under the agreement, which is subject to customary regulatory approvals by the government...
Exploration

First gas expected from BP Trinidad’s Cassia project in 2021

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BP Trinidad and Tobago’s (BPTT) Cassia Compression project is on track with first gas expected in 3Q 2021. The Cassia Compression project will enable BPTT to access and produce low pressure gas reserves from currently producing fields in the...
Exploration

Mid-Atlantic Oil & Gas among those supporting QC Alumni Math Camp

OilNOW -
Junior partner in the Canje block offshore Guyana, Mid-Atlantic Oil & Gas, is one of several companies supporting the Queen’s College of Guyana Alumni Association (NY), Inc. (QCAANY) 2019 Math Institute Summer Camp. For the fourth consecutive year, QCAANY will...
Exploration

Tullow aiming to drill Suriname wildcat in 2020

OilNOW -
UK-based Tullow Oil and its joint venture partners are gunning for a drill campaign at a Suriname wildcat in 2020. The company said this week that is has interests in three blocks in Suriname; Blocks 54, 62 and 47. “Following...
Exploration

UK Analyst and Guyanese Economist say high royalty rate could make Guyana less competitive

OilNOW -
UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...
Exploration

Offshore project sanctioning in 2019 stands at $56 billion

OilNOW -
To survive in the lower oil price environment of the past five years, E&Ps and service companies alike have sharpened their pencils and delivered significant cost reductions for the offshore industry. Rystad Energy says the resulting cost savings is...
Exploration

Whatever happens the oil will flow

OilNOW -
The sheer magnitude of Guyana’s oil producing potential has been recognised by many international publications and industry experts. With ExxonMobil Guyana expecting to produce over 750,000 barrels of oil per day by 2025, Guyana will soon become one of...
Exploration

SBM signs letter of intent to lease and operate FPSO Mero 2 in Brazil

OilNOW -
SBM Offshore has signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 22.5 years lease and operate of FPSO Mero 2, to be deployed at the Mero field in the Santos Basin offshore Brazil, 180...
Exploration

No signing bonus, free seismic data for companies in Dominican Republic’s first ever licensing round

OilNOW -
With no signing bonus and seismic exploration data being made available to companies for free, the Dominican Republic is offering low-risk contract terms in an effort to attract big investment in its nascent oil and gas industry. The licensing round...
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Latest News

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Guyana oil production hits half-billion-barrel mark

ExxonMobil Guyana announced on November 13, a milestone of 500 million barrels of accumulated crude oil production. The output...

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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