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Guyana has delivered around 11 billion barrels of oil equivalent since 2015, the largest offshore oil discovery in the past decade, with the potential to replace at least 17 percent of the gas supply lost to Europe due to...

John Hess, Chief Executive Officer (CEO) of Hess Corp. announced to investors that the front-end engineering and design (FEED) work for ExxonMobil’s fifth development in the Stabroek Block is already underway. “As for our fifth development at Uaru-Mako, the operator  anticipates submitting the...

As the week-long high-level Guyana-United States meetings continued in Washington, President Dr. Mohamed Irfaan Ali, on Wednesday spoke about the need for a balance between oil and gas development and climate aspirations. In this regard, he reaffirmed Guyana's commitment...

Hess Corporation reported on Wednesday that its capital and exploratory expenditure for the second quarter of 2022 totaled US$622 million compared with US$429 million in the prior year’s quarter. The company said this is primarily due to higher drilling...

The Export-Import Bank of the United States (EXIM) said the memorandum of understanding (MoU) it signed with Guyana on Wednesday, includes direct loans, loan guarantees, and insurance products, to finance the sale of US exports to Guyana for government projects totaling...

A discovery of accumulated natural gas was made by Brazil’s state-owned Petrobras, 32 kilometers off the coast of Colombia in the Uchuva-1 well. The company announced Friday that the well was drilled at a water depth of approximately 830 meters,...

ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...

ExxonMobil’s 2022 campaign in Guyana’s prolific Stabroek Block has been nothing short of exemplary; the oil major and its partners Hess and CNOOC have had seven consecutive discoveries that have all been commercial finds. And with just five more months...

The Payara project, ExxonMobil’s third development in Guyana’s offshore Stabroek Block is 80% complete, according to President and Chief Operating Officer of Hess Corporation, Greg Hill. Topside fabrication/installation is currently being undertaken aboard the Prosperity floating production, storage and offloading...

Notwithstanding a major slowdown in 2020 because of the pandemic’s global demand destruction, drilling and completion activities in South America are expected to bounce back significantly this year. The driving forces will be increased activities in Guyana and neighbouring Brazil,...