Exploration

Exploration

Schlumberger CEO warns of tightening oil market

OilNOW -
The head of the world’s largest oilfield service company warned of growing global supply challenges in the coming year as Venezuelan production falls and Nigerian and Libyan output reach capacity amid lingering fears of possible sanctions against Iran, Hart...
Exploration

Government releases CGX’s PSA covering Corentyne offshore concession

OilNOW -
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...
Exploration

Pacora discovery emboldens explorers down dip

OilNOW -
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...
Exploration

ExxonMobil signs deal for deepwater oil exploration off Ghana

OilNOW -
(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

Exploration to increase in 2018 but investment constraints remain

OilNOW -
(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...
Exploration

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

OilNOW -
(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...
Exploration

ExxonMobil acquires deepwater blocks offshore Mauritania

OilNOW -
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...
Exploration

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

OilNOW -
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...
Exploration

Offshore Rigs: The Basics

OilNOW -
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,...
Discoveries

Partners fast-tracking second Liza FPSO

OilNOW -
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...
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Latest News

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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...

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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