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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
Guyana has rejected Venezuela’s objection to a planned three-dimensional multi-client seismic exploration program within its Exclusive Economic Zone (EEZ),...
