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Eco pursuing “significant reservoir leads” in new 3D survey offshore Guyana

OilNOW -
Eco (Atlantic) Oil & Gas announced Thursday, along with its Operating Partner, Tullow Oil, it has approved a circa 2,550 km2 seismic survey on the Company’s Orinduik Block offshore the Co-operative Republic of Guyana. The survey is anticipated to...
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Oil drops 5.1% in 5-week low

OilNOW -
Oil prices slid nearly 5 percent on Wednesday after the U.S. government reported an unexpected increase in crude inventories, fanning fears that output cuts by major world oil producers have not drained a global glut very much. Crude stocks in...
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Oil production agreement outlines requirement for training, hiring Guyanese

OilNOW -
A detailed plan will have to be developed by ExxonMobil, its development partners, contractors and sub-contractors, to address the training and employment of Guyanese, as the country gears up for first oil in mid-2020. A source familiar with the terms...
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Fugro Venturer to begin offshore survey campaign

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With a maiden voyage that takes her to the deep waters of Ireland’s Atlantic margin and the far North of the Barents Sea, Fugro Venturer is the newest of Fugro’s successful purpose-designed, standardised survey vessels, originally formulated in 2013. The...
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ExxonMobil says royalty, terms apply to entire Stabroek block offshore Guyana

OilNOW -
The royalty and terms outlined in the production sharing contract between ExxonMobil and Guyana will apply to the entire area known as the Stabroek block, located 120 miles offshore the South American country. The US supermajor had applied for,...
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Shell reduces stake in Canada oil sands

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Royal Dutch Shell has announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources that will see Shell sell all undeveloped oil sands interests in Canada and reduce its share...
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ExxonMobil acquires deepwater block in Equatorial Guinea

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ExxonMobil said today its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 miles west of Malabo. “We look forward to building...
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Local content expert to work with Guyanese private sector

OilNOW -
Business operators in Guyana eager to get involved in the country’s emerging oil and gas sector will soon benefit from the input of a local content specialist. OilNOW understands the Guyana government is hiring the expert based on the completion...
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BP discovers 2 trillion cubic feet of gas in Trinidad & Tobago

OilNOW -
BP Trinidad & Tobago (bpTT) announced Friday that it has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. The results of these wells have unlocked approximately 2 trillion cubic feet (tcf) of gas...
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Saipem strikes $230M in offshore agreements

OilNOW -
Saipem, the same company that was earlier this year awarded a subsea contract by ExxonMobil for its Liza project offshore Guyana, has recently entered agreements to the value $230M for other offshore drilling activities in the Mediterranean, Black Sea...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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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