22 C
Georgetown
Friday, October 30, 2020

Ratio to announce start of 3D seismic work in Kaieteur Block

Must Read

Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made...

ExxonMobil announces 1900 job cuts in Untied States

US oil major ExxonMobil said on Thursday as part of an extensive global review announced earlier this year, it...

Hess confirms potential for 10 FPSOs at Guyana’s Stabroek Block

Hess Corporation said on Wednesday the development of hydrocarbon resources offshore Guyana now has the potential for up to...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Israeli-based Ratio Guyana Limited will soon announce commencement of 3D seismic work with its joint venture partner Esso Exploration and Production Guyana Limited (EEPGL), a subsidiary of US oil exploration giant ExxonMobil, in the Kaieteur Block, offshore Guyana.

OilNOW understands that the announcement, to be made under the requirement of Israeli Stock Market rules, can come as early as May 8, 2017.

The seismic survey is expected to last approximately four months and will cover an area of 5,700 square kilometres. Processing of the data will be executed during and after the 3D seismic survey and it is expected that the processed data-sets will be interpreted and assessed.

Ratio Guyana Limited has a 25 percent stake in the Kaieteur Block. Ratio Energy Limited has another 25 percent of the Kaieteur Block while EEPGL has a stake of 50 percent.

EEPGL together with joint venture partners Hess and Nexen, has already drilled a number of wells in the Stabroek Block – the latest being the Snoek well which yielded positive results. Drilling now moves on to the Liza 4 well in the Stabroek Block.

EEPGL and its partners expect to commence petroleum production within the Stabroek Block in 2020.

- Advertisement -

Latest News

ExxonMobil announces 1900 job cuts in Untied States

US oil major ExxonMobil said on Thursday as part of an extensive global review announced earlier this year, it...

Equinor in double oil strike offshore Newfoundland

Equinor (60%), and its partner BP Canada (40%), have made two oil discoveries offshore Newfoundland, Canada. The two wells at the Cappahayden and Cambriol prospects, drilled this summer in the...

Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made to date offshore the South...

Hess confirms potential for 10 FPSOs at Guyana’s Stabroek Block

Hess Corporation said on Wednesday the development of hydrocarbon resources offshore Guyana now has the potential for up to 10 floating production storage and...

Oil, gas to play key role for decades despite energy transition says Petronas CEO

(S&P Global Platts) Malaysia's state-run Petronas will be pursuing most of its oil and gas projects, but by using more cost-effective and cleaner processes,...

More Articles Like This