Exploration

Guyana government did not sanction oil blocks probe

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...

Offshore drilling making comeback with low-cost targets like Stabroek

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...

CGX to begin hazard assessment at Utakwaaka-1

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...

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...

Latest News

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...