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Liza Phase 1 production now averaging 105,000 bpd, peak output expected by December – Hess

OilNOW -
Gross production from the Liza Phase 1 Development at the Stabroek Block offshore Guyana has been averaging 105,000 barrels of oil per day in the last few weeks with a full ramp up in output expected by December. This is...
Exploration

Shell looking to strike it big on ‘Golden Lane of Oil in the Guianas’ six years after walking away from Stabroek Block

OilNOW -
Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to strike it big on the...
News

ExxonMobil announces 1900 job cuts in United States

OilNOW -
US oil major ExxonMobil said on Thursday as part of an extensive global review announced earlier this year, it plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company said...
News

Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

OilNOW -
Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made to date offshore the South American country. Rudolf Elias, CEO of Suriname’s National Oil Company, Staatsolie Maatschappij Suriname NV, during a...
News

Hess confirms potential for 10 FPSOs at Guyana’s Stabroek Block

OilNOW -
Hess Corporation said on Wednesday the development of hydrocarbon resources offshore Guyana now has the potential for up to 10 floating production storage and offloading (FPSOs) units particularly as the estimated gross discovered recoverable resources have increased to approximately...
News

Stabroek Block resources jump to 9 billion barrels of oil equivalent – Hess

OilNOW -
Hess Corporation, a 30 percent stakeholder at the Stabroek Block offshore Guyana, said on Wednesday that the estimated gross discovered recoverable resources have been updated to approximately 9 billion barrels of oil equivalent (boe) on the block. In releasing its...
News

Guyanese have ‘transferrable skills’ that can be used for oil and gas says OES VP

OilNOW -
In addition to employing Guyanese in the oil and gas industry, local content development also includes investing in these human resources and developing the skills and capacity needed to support the exploration and production activities in the South American...
News

CNOOC records 131.2 million boe for Q3 2020, Guyana remains key overseas project

OilNOW -
China National Offshore Oil Corporation (CNOOC), a 25% stakeholder in Guyana’s Stabroek Block, said it achieved a total net production of 131.2 million barrels of oil equivalent (boe) for the third quarter of 2020, representing an increase of 5.1%...
News

PETRONAS reports 2 dead in vessel collision with platform structures off Malaysia

OilNOW -
Malaysian oil and gas company PETRONAS said Tuesday an incident involving a vessel which made contact with platform structures occurred at the Baram field, 14 nautical miles off Miri at 6.23 am on October 27, 2020. The vessel, MV Dayang...
News

As Guyana FPSO orders grow, one quarter of global floater fleet under threat of being scrapped

OilNOW -
The pandemic-driven downturn in the oil and gas industry is threatening the global floater fleet which could see up to a quarter of the installations being scrapped, even as orders for new oil producer Guyana is set to grow. Rystad...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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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