Exploration

Exploration

UK threatens fines for operators who fall short of drilling obligations

OilNOW -
Britain’s oil and gas regulator – North Sea Transition Authority (NSTA) – on Friday issued a warning to the industry that it would not hesitate to take action against companies that fail to meet their licence obligations. The warning was...
Exploration

With nine Guyana discoveries so far, 2022 marks best exploration year for Stabroek co-venturers

Shikema Dey -
With two new discoveries announced on Wednesday, 2022 is being referred to as the best exploration year in Guyana for the ExxonMobil-led co-venturers. Exxon has a 45% stake in the 6.6 million acres Stabroek Block, with Hess Corporation holding 30% and...
Exploration

Exxon conducting more drilling operations at Fangtooth, looking to increase pay

OilNOW -
Drilling operations are set to continue at the Fangtooth reservoir in the Stabroek Block offshore Guyana. Operator of the block, ExxonMobil, is utilizing the Stena Carron rig for this latest operation. OilNOW understands the well site is situated approximately 100.8...
Exploration

Orinduik partners to target exploration well early 2023 – Eco Atlantic

OilNOW -
The partners in the Orinduik Block offshore Guyana are targeting an exploration well in early 2023, according to a report from 15% stakeholder, Eco Atlantic Oil & Gas. This well is expected to be drilled in the second renewal period...
Exploration

Guyana’s oil-related foreign direct investments were US$4.4 billion in 2021 – Report

OilNOW -
In 2018, Guyana’s rapidly expanding hydrocarbons sector paved the way for significant capital inflows, accounting for 28.8% of Gross Domestic Product (GDP). This was noted in a report prepared by the International Monetary Fund (IMF). The financial institution was pleased...
Exploration

Guyana remains highly competitive as exploration shrinks globally

OilNOW -
The small South American country of Guyana, unknown to the world of oil and gas just seven years ago, is now one of the most active regions globally even as companies opt for less risk which is seeing a...
Exploration

Guyana’s first oil block auction: What to expect

Shikema Dey -
All eyes will be on Guyana come September when the country opens its first offshore bid round. This will be a major step for Guyana, a country that has never handed out oil licenses through a competitive process. Oil and...
Exploration

Maersk Resolute rig secured for additional five-well drilling with Petrogas in Dutch North Sea

OilNOW -
Petrogas E&P Netherlands B.V. has secured Maersk Drilling’s harsh environment jack-up rig ‘Resolute’ for an additional five-well drilling work scope, amending a previous agreement. An option included in the original contract will be replaced by the newly entered five-well contract,...
Exploration

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues

OilNOW -
Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...
Exploration

Staatsolie set to spend US$1.5B through 2027 with major focus on offshore development

OilNOW -
From 2022 through 2027, Suriname’s state oil company, Staatsolie, plans to expend an estimated US$1.5 billion as part of its Investment Program, the bulk of which will be for participation in offshore development. In its updated Strategic Roadmap, Staatsolie noted too that the...
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Guyana oil production hits half-billion-barrel mark

ExxonMobil Guyana announced on November 13, a milestone of 500 million barrels of accumulated crude oil production. The output...

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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