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2022 was standout year for exploration – WoodMac

OilNOW -
UK-based consultancy group Wood Mackenzie has dubbed 2022 a standout year for exploration – the strongest in more than a decade. The global exploration sector, in its bid to improve portfolios by adding lower-carbon, lower-cost advantaged barrels, created at least...
News

Exxon cops OTC award for Liza developments offshore Guyana

OilNOW -
The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso Exploration and Production Guyana Limited’s Liza Developments in the offshore Stabroek Block. OTC said Liza Phase 1 was “one of the...
News

OPEC expects Guyana to up 2023 crude production by more than 90,000 bpd

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The Organisation of Petroleum Exporting Countries (OPEC) expects Guyana to add about 90,000 barrels of crude per day (bpd) to its current output, according to the  January monthly oil market report. This would lift Guyana’s 2023 output 32 million barrels...
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TT Energy Expert urges cautious approach to Dragon Gas Deal

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Energy Strategist and Advisor Anthony Paul has urged Trinidad and Tobago to get its proverbial ducks in order before approaching the Dragon gas deal with Venezuela’s state-own PDVSA. “I think that we have a bigger role to play on the...
Energy Insights

Exxon made US$56 billion last year. So, what?

OilNOW -
ExxonMobil made a US$55.7 billion profit in 2022. That is a huge number. So, when Guyanese media outlets report on the oil major’s earnings, many locals are quick to assume that these earnings are Esso Exploration and Production Guyana...
News

Exxon waiting on “material improvement” before revising Stabroek Block resource count

OilNOW -
ExxonMobil has been quickly racking up discoveries in Guyana’s offshore Stabroek Block with nine alone in 2022. Yet, no revision has been made to the resource count. At present, Exxon said it has discovered close to 11 billion oil equivalent...
News

Prosperity FPSO first to be outfitted with fabricated steel from Guyana

OilNOW -
Guyana grabbed a massive win for local content with the Prosperity vessel. According to SBM Offshore, it is the first Guyana floating, production, storage, and offloading (FPSO) vessel to incorporate Guyanese fabricated steel. And that stellar feat was made possible by...
News

FEED work commences on sixth Stabroek Block project

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Front end engineering and design (FEED) work has commenced on the Whiptail development project, ExxonMobil Guyana Project Manager, Anthony Jackson said Thursday. The company had faced criticism several years ago when it was announced that a FEED contract was issued...
News

Stena Drilling’s Spey platform contracted by Ithaca Energy for UK offshore

OilNOW -
Stena Drilling announced that it signed a new Contract with Ithaca Energy (UK) Limited for Mobile Offshore Drilling Unit (MODU) Stena Spey. The Stena Spey is a Friede & Goldman L907 (enhanced Pacesetter) twin pontoon, column-stabilised, semi-submersible offshore drilling unit.  The...
News

Drill rig day rates to peak at $500k in 2023 – Westwood Energy

OilNOW -
Drill rigs are expected to have a busy year in 2023. So much so that Westwood Global Energy Group sees day rates shooting up to US$500,000. Last year, Westwood said day rates for new drillship fixtures jumped to US$359,852 from US$232,555...
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400 Guyanese supporting Noble’s offshore operations 

Noble Corporation says it continues to prioritize the development of Guyanese talent as part of its offshore operations. According...

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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