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Eco Atlantic transfers stake in South African block to Africa Oil

OilNOW -
Eco (Atlantic) Oil & Gas has signed an assignment and share cancellation agreement with Africa Oil. Azinam, a wholly owned subsidiary of Eco, will transfer a 1% interest in Block 3B/4B offshore South Africa to Africa Oil.  This includes the...
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Bringing Hammerhead gas to shore among considerations for Exxon

OilNOW -
ExxonMobil is considering multiple alternative options for the associated gas from the proposed Hammerhead oil development.  Hammerhead, which is currently being reviewed for regulatory approval, would be the seventh Stabroek Block project. For the prior six developments, the associated gas...
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Second phase of Berbice training facility for completion in 2025

OilNOW -
Authorities in Guyana are pursuing the second phase of a training facility in Berbice with support from ExxonMobil, slated for completion in 2025. The first phase, a simulator for floating production, storage and offloading (FPSO) vessels, was commissioned in...
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TotalEnergies, QatarEnergy withdraw from South African offshore blocks

OilNOW -
TotalEnergies has announced its withdrawal from two offshore oil and gas blocks in South Africa. This decision follows the exit of its partner, QatarEnergy, from one of the blocks. TotalEnergies and QatarEnergy are both withdrawing from Block 11B/12B, off South...
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Maduro declared winner but opposition says it won 70% of the vote

OilNOW -
(Al Jazeera) Nicolas Maduro, 61, has been declared the winner in Venezuela’s presidential election by the electoral authority, setting up a high-stakes showdown that will determine whether the South American nation transitions away from one-party rule. Opposition leader Maria Corina...
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No other FPSO project in past five years achieved ramp-up like Prosperity 

Shikema Dey -
ExxonMobil’s ramp-up of its third floating, production, storage and offloading (FPSO) vessel offshore Guyana has set an industry benchmark, according to Wood Mackenzie's Upstream Research Principal Analyst, Luiz Hayum.  The Prosperity FPSO, built for the Payara development, reached its oil...
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TotalEnergies optimistic of meeting US$9B budget for Suriname development

Shikema Dey -
TotalEnergies Chief Financial Officer Jean-Pierre Sbraire expressed confidence to shareholders that the company can hit the US$9 billion budget it set for Suriname’s first offshore development.  Sbraire’s assurance comes in the face of global inflationary pressures.  He said, “Today, I...
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Exxon’s Uaru and Whiptail projects could each target up to 275,000 b/d 

OilNOW -
ExxonMobil’s Uaru and Whiptail projects are each targeting an initial production range of 220,000-275,000 barrels per day (b/d), according to a document distributed at the company’s recent public meeting in Georgetown.  Uaru and Whiptail are the fifth and sixth oil...
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MODEC Guyana Inc. seeks contractors for topside valves project for Uaru FPSO 

OilNOW -
MODEC Guyana Inc. (MOG) has issued a Request for Information (RFI) for the supply of skilled manpower to execute the Topside Valves Signature on the Errea Wittu floating production storage and offloading unit.  The project, set to commence after 2026,...
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Guyana to remain carbon sink with Exxon’s Hammerhead and Gas-to-Energy projects

OilNOW -
Even with a string of massive oil developments being pursued offshore Guyana, the country will remain a net carbon sink for years to come, a study indicated.  Guyana’s Environmental Protection Agency (EPA) requested that ExxonMobil conduct an environmental impact assessment...
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Linden-Mabura road to soon link South America’s oil giants, boost trade and integration

Guyana’s Linden to Mabura Hill road project will be spotlighted at the Caribbean-Brazil Summit on June 13 in Brasilia....

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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