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WoodMac estimates Pluma could contain 300 million barrels of oil

OilNOW -
Industry analyst Wood Mackenzie estimates that ExxonMobil’s 10th discovery off the Guyana coast at the Pluma 1 well could add an additional 300 million barrels of oil to what is a rapidly growing resource base for the US oil...
News

Demand for land increases with oil and gas prospects

OilNOW -
As the development of Guyana’s oil and gas resources continues, the Guyana Lands and Surveys Commission (GL&SC) has seen an increased demand for land. “There is a lot of interest in…waterfront lands and many people have their own idea about...
News

Large-scale land, water remapping project to get underway in Guyana

OilNOW -
As it embarks on a project to remap the entire country, the Guyana Lands and Surveys Commission (GL&SC) is establishing a Hydrographic Surveying Unit to deal with a range of features including those related to offshore exploration. According to Chief...
News

BP detects 1 billion barrels of oil at Thunder Horse field

OilNOW -
British energy company BP said Tuesday it has found 1 billion barrels of crude at the Thunder Horse field in the Gulf of Mexico after analyzing the results of breakthrough seismic imaging.  Elsewhere, two new discoveries near the Na Kika...
News

US$65M expended with more than 300 local suppliers during 2018 from Exxon operations in Guyana

OilNOW -
ExxonMobil said in an update on Monday that throughout its activities in Guyana, the company continues to emphasize and promote direct benefits to local business. “More than 50 percent of the Guyana affiliate’s employees, contractors and subcontractors are Guyanese, a...
Exploration

ExxonMobil begins drilling at Haimara; major development options seen at Turbot

OilNOW -
US oil major ExxonMobil said on Monday that it has begun drilling the Haimara-1 exploration well offshore the South American country of Guyana - the first of two planned wells in January. The Stena Carron drillship is drilling the well,...
News

Liza Phase 1 moves into ‘peak execution’ – ExxonMobil

OilNOW -
ExxonMobil said on Monday that work on the Liza Phase 1 development offshore Guyana is progressing and has moved into its peak execution phase ahead of expected startup in early 2020. “Drilling of development wells in the Liza field is...
News

Oversupply, faltering growth to weigh on oil prices in 2019: Reuters poll

OilNOW -
(Reuters) - Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters...
News

Fund to manage oil revenue gets green light in Guyana

OilNOW -
The long awaited 2018 Natural Resource Fund bill was passed in the National Assembly on Thursday evening. The bill, which saw minor amendments, was passed in the absence of the opposition, People’s Progressive Party/Civic. The opposition had earlier taken a decision...
News

Venezuela urged to back off as Guyana vows to continue offshore exploration, development

OilNOW -
Guyana’s Foreign Minister, Carl Greenidge, said on Thursday that the oil-rich South American country has no intention of slowing down offshore exploration and development activities and reiterated that companies operating in the Stabroek Block will continue to execute their...
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Steam turbines, oil tanks in Guyana for Gas-to-Energy project

US-based group Lindsayca-CH4 said two state-of-the-art steam turbines and two oil tanks arrived in Guyana on December 21, 2024.  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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