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Stabroek Block and the Liza oil field

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Spread over 26,800km² in Guyana’s offshore waters, the Stabroek Block is estimated to contain more than six billion barrels of oil equivalent as of 2019. Drilling has been ongoing to explore and evaluate other potential areas of the block. Liza...
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ExxonMobil moving to plug and abandon Gippsland Basin wells offshore Australia

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US oil major ExxonMobil is moving to plug and abandon five Whiting wells, located in the Gippsland basin offshore Australia in an exercise set to begin in March. The Noble Tom Prosser jack-up rig will permanently plug and abandon the...
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Potential for ‘prolific oil wells’ seen in historic discovery offshore Suriname

OilNOW -
Apache’s historic oil discovery offshore Suriname has opened a new chapter in the potential of the Guyana-Suriname basin which the US Geological Survey (USGS) has long said could contain more than 13.6 billion barrels of oil and 32 trillion...
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Explorers hopeful Suriname discovery signals extension of Stabroek mega oil play

OilNOW -
Explorers have been looking closely at the multi-billion-barrel oil resource at Guyana’s Stabroek Block with hopes that this prolific petroleum system stretches across to Suriname where efforts to find hydrocarbons offshore have been futile…until now. The discovery at Maka Central-1...
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Venezuelan oil exports fell by a third in 2019 as U.S. sanctions bit

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(Reuters) - Venezuela’s oil exports plummeted 32% last year to 1.001 million barrels per day, according to Refinitiv Eikon data and state-run PDVSA’s reports, as a lack of staff and capital drove output to its lowest level in almost...
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Oil surges as Iran says it attacks Iraq base housing U.S. troops

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(Bloomberg) - Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts U.S. troops. Spot gold also jumped. West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on...
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Apache’s stock rockets toward biggest gain in nearly 50 years after company strikes oil offshore Suriname

OilNOW -
Shares of Apache Corp. on Tuesday surged toward their biggest one-day gain in nearly 50 years, after the oil-and-gas company announced a “significant oil discovery” off the shores of Suriname, MarketWatch said in a report. That prompted Bank of America...
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Apache makes significant oil discovery offshore Suriname

OilNOW -
Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced a significant oil discovery at the Maka Central-1 well drilled offshore Suriname on Block 58. The well was drilled using the drillship Noble Sam Croft with Apache as operator holding a 50%...
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O&G pushing transportation demand: Cyril Taxi moves from 1 to 133 drivers

OilNOW -
The spin-off benefits from oil and gas are growing in the South American country of Guyana where a taxi service which has been in operation for over a decade started providing transportation services to the oil and gas industry...
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CGX Energy expected to drill well by November

OilNOW -
Canadian-based oil and gas company CGX Energy is expected to drill an exploration well offshore Guyana by November of this year after deferring its 2019 target for spudding a well at the Corentyne Block. CGX is operator at the...
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Nigeria’s Petroleum Commission confirms ExxonMobil’s US$1.5B investment in the country’s deepwater oil sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that ExxonMobil will invest $1.5 billion in Nigeria’s deepwater oil...

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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