Exploration

Exploration

2016 Stabroek contract revisions followed dry hole at Skipjack

OilNOW -
When US oil major ExxonMobil first started exploration activities at the Liza field the odds of finding oil at the high-risk Guyana basin was less than 20 percent. The giant discovery in 2015 of 800 million to 1.4 billion...
Exploration

Tullow spuds Guyana wildcat; results expected in August

OilNOW -
UK-based Tullow Oil and its joint venture partners have spudded their first well at the Orinduik Block offshore Guyana located just miles away from the multi-billion-barrel Stabroek Block where US oil major ExxonMobil has to date made a record...
Exploration

Guyana mega oil potential to be tested in 2019

OilNOW -
Multiple commercial oil discoveries at Guyana’s Stabroek Block have established the country as a key up and coming producer in the region. And now, as exploration activities ramp up at other blocks outside Stabroek, a discovery could push the...
Exploration

Guyana is one of the main beneficiaries of deepwater reinvention

OilNOW -
Deepwater and tight oil are two of the great growth themes in the oil and gas industry, but are often considered to be at opposite ends of the development spectrum. Deepwater represents large, expensive and complex long-cycle projects best suited...
Exploration

Multiple play types with an 87% success rate make Guyana a unique frontier

OilNOW -
The resource growth in Guyana’s Stabroek Block is being described as ‘staggering’ by a top official at US oil major ExxonMobil who says while the average success rate in a frontier area is 10%, the company has had an...
Exploration

ExxonMobil evacuates staff from Iraq following rocket fire

OilNOW -
Rocket fire on Wednesday June 19 near the site of ExxonMobil’s operation in Iraq, has triggered an evacuation of the US oil major's staff, Reuters reports. According to Reuters, a rocket hit a site in southern Iraq which is used...
Exploration

Why explorers are in the grip of an existential crisis

OilNOW -
The energy transition is challenging the raison d'etre of conventional exploration, which has always been the industry's primary engine for growth. So says Andrew Latham, Vice President of Global Exploration at Wood Mackenzie. In a low-carbon future, is there still room...
Exploration

Guyana government did not sanction oil blocks probe

OilNOW -
The Guyana government said on Friday it only learnt about a probe into the award of oil blocks through media reports and it has not received any formal update from the State Asset Recovery Agency (SARA) in relation to...
Exploration

Offshore drilling making comeback with low-cost targets like Stabroek

OilNOW -
Producing 120,000 barrels of oil per day from the Permian basin would require a $12.8 billion investment while hitting the same volume from Guyana’s Stabroek Block require just $3.7 billion for the first phase of the Liza Development project. John...
Exploration

CGX to begin hazard assessment at Utakwaaka-1

OilNOW -
CGX Energy Inc. is set to begin a shallow hazard survey at its Utakwaaka-1 well site offshore Guyana ahead of a drill campaign scheduled to get underway by or before November 2019. Guyana’s Maritime Administration Department said the operation, which...
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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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