Exploration

$620B in oil & gas projects may be deferred through 2020 – Deloitte

The impact of the extended oil price downturn will likely have long-term effects on the industry in a number of areas including capital allocation and people, according to multinational professional services firm, Deloitte Touche Tohmatsu Limited. In describing 2017 as...

Total-ExxonMobil & Energean get approval for offshore oil exploration in Greece

Greece has approved an application by a consortium of ExxonMobil, France’s Total SA, and domestic oil refiner Hellenic Petroleum, to drill for oil and gas off the island of Crete, Reuters reported on Friday. Greece has also approved another application,...

Eco pursuing “significant reservoir leads” in new 3D survey offshore Guyana

Eco (Atlantic) Oil & Gas announced Thursday, along with its Operating Partner, Tullow Oil, it has approved a circa 2,550 km2 seismic survey on the Company’s Orinduik Block offshore the Co-operative Republic of Guyana. The survey is anticipated to...

Guyana finalizing ExxonMobil production license; public disclosure on agreement likely

Guyana’s Minister of Natural Resources Raphael Trotman said today that government is in the process of finalising ExxonMobil’s production license and will be “making some pronouncements in the next few weeks.” Mr. Trotman made the announcement to stakeholders at...

Tullow working up drilling prospects offshore Guyana, Uruguay

Tullow Oil is stepping up exploration of frontier basins offshore South America and West Africa. The company’s New Ventures team has completed a 2D seismic survey off Jamaica and a 3D survey offshore Uruguay, Offshore reports. Tullow will use the Uruguay...

Ratio to announce start of 3D seismic work in Kaieteur Block

Israeli-based Ratio Guyana Limited will soon announce commencement of 3D seismic work with its joint venture partner Esso Exploration and Production Guyana Limited (EEPGL), a subsidiary of US oil exploration giant ExxonMobil, in the Kaieteur Block, offshore Guyana. OilNOW understands...

CGX maps out plans for “getting back in the game”

CGX Energy Inc. has provided details on the financial state of the company and its plans to restart oil exploration offshore Guyana. The Canadian-based oil junior released its audited consolidated financial results for 2016 along with an update on...

Global demand for oil could outstrip supply after 2020 unless new investments approved soon

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned...

TechnipFMC awarded Subsea Contract for Liza deep water project

TechnipFMC has been awarded a contract by an affiliate of ExxonMobil Corporation for the engineering, manufacture and delivery of the subsea equipment for the Liza deep water project in Guyana, South America. The award scope includes seventeen total enhanced vertical...

Exxon making big time push for shale in South America

ExxonMobil Corporation will spend close to one billion dollars this year to ramp up the production of natural gas at the Vaca Muerta shale play located in Neuquen, Argentina. The governor of Neuquen province, Omar Gutierrez, said in a statement...

Latest News

Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...