Exploration

Guyana discoveries help ExxonMobil add 4.5 billion barrels to its reserves

ExxonMobil said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. The company said continuing success in exploration and strategic acquisitions in Guyana and Brazil have...

Major oil find excites southern Caribbean

(Amsterdam News) U.S. supermajor ExxonMobil announced two major oil finds offshore Guyana in the past week, and the discovery has raised the hopes for similar massive oil discoveries in two of its neighbors that incidentally already produce oil and...

Tilapia encountered “highest net pay count” to date on Stabroek Block

The two most recent discoveries on Guyana’s prolific Stabroek Block is particularly significant since one represents the highest net pay count found to date and the other the first gas discovery announced by the ExxonMobil-led consortium of Hess and...

Guyana moving towards open bidding for oil blocks, multi-client seismic survey

Guyana could soon have its first open bid round for oil blocks by Q1 2020 the Director of the Department of Energy (DoE), Dr. Mark Bynoe, told reporters on Monday. An overhaul of the 1986 Petroleum Exploration and Production Act,...

2019 high impact exploration starts with a bang: Guyana leads with 2

In the first few weeks of 2019 there have been four high impact discoveries of conventional oil and gas, finding 25% of the high impact volume discovered globally in the whole of 2018, says Westwood Global Energy Group. One of...

Venezuela oil production could fall below 700,000 bpd by 2020

As Guyana prepares for first oil in 2020 from the Liza Phase 1 Development, and multiple additional projects on the horizon, with an estimated ramp up to 750,000 bpd by 2025, its western neighbor Venezuela, could see production drop...

ExxonMobil gunning for more oil at Yellowtail as Guyana foray continues

Twelve discoveries and more than 5 billion barrels of oil later, US oil major ExxonMobil’s story in Guyana is still being written and analysts believe that more oil lay in the chapters ahead. Fresh off of its 11th and 12th...

WoodMac expects ‘billion-barrel scale volumes’ from Guyana, Mexico and Brazil

After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this...

Repsol to begin survey offshore Guyana this week

Spanish oil company Repsol will begin undertaking a geotechnical survey in the Kanuku Block offshore Guyana on Saturday. The survey activities are scheduled to continue until February 24. The MV Regulus will conduct the operation some 66 nautical miles from...

Guyana investment pushes ExxonMobil at top of the pack for 2018 O&G explorers – Rystad Energy

Driven by its significant investment in Guyana, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. “ExxonMobil was exceptional, both in terms of discovered volumes and value...

Latest News

Guyana may enter long-term oil supply deals if there is market oversupply – VP

Guyana's Vice President, Bharrat Jagdeo, said the government may enter a long-term oil supply deal if there is oversupply...