Exploration

Government releases CGX’s PSA covering Corentyne offshore concession

The Government of Guyana on Monday released another Petroleum Agreement, this time for CGX Resources Inc.’s Corentyne offshore concession. Government had a few weeks ago released a similar agreement between itself and CGX Resources Inc. but for their Demerara...

Pacora discovery emboldens explorers down dip

ExxonMobil’s 7th oil discovery off the coast of Guyana at the Pacora reservoir has further emboldened joint venture partners down dip in the Orinduik block. Eco Guyana holds a 40% working interest alongside Tullow Oil (60%) in the 1,800 km2...

ExxonMobil signs deal for deepwater oil exploration off Ghana

(Reuters) - Exxon Mobil Corp signed a deal with Ghana on Thursday to explore for oil in the Deepwater Cape Three Point offshore (DWCTP) oilfield. The signing followed direct negotiations between Ghana and Exxon Mobil without an open competitive tender...

Exploration to increase in 2018 but investment constraints remain

(Rigzone) Exploration activity will increase in 2018, but market uncertainty and the need to manage debt levels will remain key constraints to investment. That is the view of oil and gas analysts at BMI Research, who highlighted that a recent...

Oil firms to step up exploration off Norway this year after poor 2017

(Reuters) - Efforts to find new oil off Norway are expected to double in 2018, preliminary company plans show, with activity rising in more mature areas after this year’s disappointing Arctic campaign. The pressure to deliver is growing as 2017’s...

ExxonMobil acquires deepwater blocks offshore Mauritania

ExxonMobil (NYSE: XOM) affiliate ExxonMobil Exploration and Production Mauritania Deepwater Ltd. has signed production-sharing contracts with the government of Mauritania for three deepwater offshore blocks. Blocks C22, C17 and C14 are located an average of 200 km (124 miles) offshore...

‘We want to look back 10 years from now and say we helped Guyana’ – Exxon Country Manager

ExxonMobil Guyana Country Manager, Rod Henson says the company would like to look back 10 years from now and see that its presence would have served to help the South American country of 750,000 people. Guyana will enter the league...

Offshore Rigs: The Basics

Offshore exploration and development wells are often drilled from mobile offshore drilling units (MODUs, pronounced "moe-dooz"). Depending on the water depth and remoteness of the location, these "rigs" may be jack-ups (up to 400 feet of water), or semisubmersibles,...

Partners fast-tracking second Liza FPSO

ExxonMobil is fast-tracking a second floater project for Guyana’s Liza area development amid suggestions that the next unit will be significantly larger than the 120,000-barrels-per-day Liza-1 unit. According to an Upstream report, plans for a second floating production, storage and...

Exxon hit early jackpot by drilling “biggest, best prospects first” – Mc Gehee

ExxonMobil made the decision to begin drilling for oil in Guyana at the Liza field since this prospect was the biggest and best, based on data analysed by the company. By the time the oil major acquired rights to explore...

Latest News

Hess facing three lawsuits over disclosures in Chevron deal

(Reuters) - Oil producer Hess (HES.N) on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over...