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Suriname Staatsolie enters production sharing agreement with Carin Energy

OilNOW -
Staatsolie Maatschappij Suriname N.V. and its new partner UK-based Cairn Energy signed a production sharing contract for offshore Block 61 on June 26. Cairn Energy will search for oil in offshore Suriname. In a statement Staatsolie said Cairn will kick-off...
News

Guyana could account for 7% of ExxonMobil’s overall production by 2027

OilNOW -
Guyana is becoming increasingly important to ExxonMobil’s portfolio and could account for 7 percent of its overall production by 2027. Tom Ellacott, Senior Vice President, Corporate Research at Wood Mackenzie says the South American country “is really going from strength...
News

Guyana oil reserves now exceed 4 billion barrels; daily estimated production to hit 700,000 – Wood Mack

OilNOW -
UK-based industry analyst, Wood Mackenzie, says the most recent oil discovery made by ExxonMobil in Guyana could push daily production to 700,000 barrels of oil per day by 2027 while estimating total recoverable reserves in the Stabroek Block to...
News

Jack up and semi-submersible rig options look promising for Eco Atlantic – Colin Kinley

OilNOW -
Eco (Atlantic) Oil and Gas’ Chief Operating Officer Colin Kinley said that both jack up and semi-submersible drilling targets in the Orinduik block offshore Guyana reflect very positive economics for development. Kinley said, "Exxon's Longtail-1 discovery in the Stabroek Block, further...
News

Kosmos Energy plugs, abandons Anapai after failing to find hydrocarbons

OilNOW -
Kosmos Energy (NYSE: KOS) (LSE: KOS) said Tuesday that drilling at the Anapai-1A exploration well located in Block 45 offshore Suriname has failed to find any hydrocarbons. Anapai-1A was drilled to a total depth of 4,556 meters and was designed to...
News

World Bank green-lights US$35M to boost Guyana’s oil & gas preparations

OilNOW -
The World Bank Group announced on Monday that it has approved a US$35 million Development Policy Credit to support Guyana’s efforts to strengthen financial sector development and fiscal management to better prepare the country to benefit from its newly...
Exploration

Hammerhead is next stop for Stena Carron as oil search continues offshore Guyana

OilNOW -
Fresh off of its eight oil discovery offshore Guyana, ExxonMobil is set to continue its exploration campaign at Hammerhead-1 in the 6.6 million acres Stabroek Block. Senior Director, Public and Government Affairs, Kimberly Brasington, said the Stena Carron will soon...
News

Increased shorebase services will be needed for Liza Phase 2

OilNOW -
As plans continue for the much bigger Liza Phase 2 development project in Guyana, more opportunity will be created for shorebase facilities to service the rapidly expanding activities in the 6.6 million acres Stabroek Block. The Liza field will be...
News

Guyanese must be main beneficiaries of oil & gas – new PSC Chairman

OilNOW -
Newly elected Chairman of the Private Sector Commission of Guyana (PSC), Desmond Sears, says the umbrella body representing businesses in the South American country will continue to advocate for Guyanese, both home and abroad, to be the main beneficiaries...
News

‘You have to decide whether you’re at the table or on the menu’ – Repsol’s Ryan Ramjit

OilNOW -
- Said EITI reporting mechanism helps to answer this question Alternate member of the Guyana Extractive Industries Transparency Initiative (GYEITI) Multi-Stakeholder Group (MSG) representing Industry Ryan Ramjit sounded a dire warning to Guyana during a community outreach meeting in Bartica...
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IMF’s oil price revision suggests lower revenue for Guyana than projected 

Guyana’s government may collect less oil revenue in 2025 than it initially projected, following the International Monetary Fund’s (IMF)...

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