Exploration

Exploration

Liza development drilling, installation 70% complete

OilNOW -
Drilling of the development wells for the Liza Phase 1 project and installation of subsea equipment are 70 percent complete as the South American country of Guyana forges ahead to first oil now just months away. “Drilling of the Phase...
Exploration

Stabroek resources now exceed 6 billion barrels – Hess

OilNOW -
Gross resources at Guyana’s Stabroek Block now exceed 6 billion barrels of oil equivalent and potential for future multi-billion-barrel discoveries remain high. Speaking on its Q2 2019 earnings call on Wednesday, CEO of Hess corporation, John Hess, said the estimated...
Exploration

Eco Atlantic closes financial year with strong balance sheet amid Guyana prospects

OilNOW -
Eco (Atlantic) Oil & Gas Ltd (AIM: ECO, TSX-V: EOG) announced Tuesday that it has ended the financial year with cash and cash equivalents of CAD 25.0 million. As of 31 March 2019, Eco had total assets of CAD...
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

OilNOW -
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...
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T&T Energy Ministry to investigate rig collapse that left worker missing

Pete Phillip, a worker attached to Well Services Limited, is missing after an incident at Rig 110 within the...

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