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Exploration

CGX taps Danish driller for Guyana wildcat

OilNOW -
Canadian exploration partners, Frontera Energy Corporation and CGX Energy Inc, announced Thursday that an agreement was signed with Maersk Drilling Holdings Singapore Limited for the provision of a semi-submersible drilling unit, the Maersk Discoverer, and associated services to drill...
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Guyana total oil revenues set to surpass US$340 million

OilNOW -
When the proceeds received by Guyana for the first quarter of 2021 from oil produced and sold at the offshore Liza Phase 1 Development are added to the amount currently in the Natural Resources Fund, this is expected to...
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CNOOC’s first-quarter revenue surges 21%

OilNOW -
China’s national offshore oil and gas company CNOOC Ltd. said on Thursday its oil and gas sales revenue in the first quarter of this year surged by 21%. The Company achieved a total net production of 137.7 million barrels...
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As Guyana prepares for oil bonanza, Rystad says world can hit peak oil demand sooner than expected

OilNOW -
Norway-based consultancy group Rystad Energy says the adoption of electrification in transport and other oil-dependent sectors is accelerating and is set to chip away at oil sooner and faster than in its previous forecast. As a result of this...
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U.S. judge says Exxon lawsuit demanding millions lost in Cuba can proceed

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(Bloomberg) Exxon Mobil Corporation can move forward with a U.S. lawsuit seeking $280 million from two Cuban companies as compensation for a refinery and other assets seized from the oil giant after Fidel Castro’s 1959 revolution, a judge in Washington...
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Exxon ‘slowly ramps up production’ to between 100,000 – 110,000 bpd, assessment of discharge silencer underway

OilNOW -
ExxonMobil Guyana said on Wednesday it has removed the faulty discharge silencer from the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel for further assessment of the damage to determine the necessary scope of repairs needed. The company said...
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Guyana driving subsea tree demand as number of oil fields targeted for development increase

OilNOW -
The base-case subsea tree demand for the 2021-24 period is now forecast at approximately 1050 units representing an upward revision of 60 units compared to a March outlook by consultancy group Westwood Energy. “The increase is due to ExxonMobil’s commitment...
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EPA says all projects subject to ‘comprehensive screening process’

OilNOW -
Guyana’s Environmental Protection Agency (EPA) says it routinely assesses all projects submitted for approval to determine their impacts on the environment and human health. This entails a comprehensive screening process which includes evaluation of the information submitted, site inspection...
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TechnipFMC secures major subsea contract for Brazil field developments

OilNOW -
TechnipFMC has been awarded a major subsea contract from Petrobras for the Marlim and Voador fields, located offshore Brazil. TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes...
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World’s biggest oil trader expects demand to come roaring back this year

OilNOW -
(Bloomberg) -- The head of Vitol Group, the world’s biggest independent oil trader, expects crude demand to come roaring back this year and next as the world emerges from the pandemic. Demand for crude will increase by 7 million to...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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