Monday, February 6, 2023

News

2022 was standout year for exploration – WoodMac

UK-based consultancy group Wood Mackenzie has dubbed 2022 a standout year for exploration – the strongest in more than a decade. The global exploration sector, in its bid to improve portfolios by adding lower-carbon, lower-cost advantaged barrels, created at least...

Exxon cops OTC award for Liza developments offshore Guyana

The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso Exploration and Production Guyana Limited’s Liza Developments in the offshore Stabroek Block. OTC said Liza Phase 1 was “one of the...

OPEC expects Guyana to up 2023 crude production by more than 90,000 bpd

The Organisation of Petroleum Exporting Countries (OPEC) expects Guyana to add about 90,000 barrels of crude per day (bpd) to its current output, according to the  January monthly oil market report. This would lift Guyana’s 2023 output 32 million barrels...

TT Energy Expert urges cautious approach to Dragon Gas Deal

Energy Strategist and Advisor Anthony Paul has urged Trinidad and Tobago to get its proverbial ducks in order before approaching the Dragon gas deal with Venezuela’s state-own PDVSA. “I think that we have a bigger role to play on the...

Exxon waiting on “material improvement” before revising Stabroek Block resource count

ExxonMobil has been quickly racking up discoveries in Guyana’s offshore Stabroek Block with nine alone in 2022. Yet, no revision has been made to the resource count. At present, Exxon said it has discovered close to 11 billion oil equivalent...

Prosperity FPSO first to be outfitted with fabricated steel from Guyana

Guyana grabbed a massive win for local content with the Prosperity vessel. According to SBM Offshore, it is the first Guyana floating, production, storage, and offloading (FPSO) vessel to incorporate Guyanese fabricated steel. And that stellar feat was made possible by...

FEED work commences on sixth Stabroek Block project

Front end engineering and design (FEED) work has commenced on the Whiptail development project, ExxonMobil Guyana Project Manager, Anthony Jackson said Thursday. The company had faced criticism several years ago when it was announced that a FEED contract was issued...

Stena Drilling’s Spey platform contracted by Ithaca Energy for UK offshore

Stena Drilling announced that it signed a new Contract with Ithaca Energy (UK) Limited for Mobile Offshore Drilling Unit (MODU) Stena Spey. The Stena Spey is a Friede & Goldman L907 (enhanced Pacesetter) twin pontoon, column-stabilised, semi-submersible offshore drilling unit.  The...

Drill rig day rates to peak at $500k in 2023 – Westwood Energy

Drill rigs are expected to have a busy year in 2023. So much so that Westwood Global Energy Group sees day rates shooting up to US$500,000. Last year, Westwood said day rates for new drillship fixtures jumped to US$359,852 from US$232,555...

Wei-1 exploration to cost up to US$170 million – Frontera Energy

Corentyne Block majority stakeholder, Frontera Energy, said the total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately US$160-$170 million. Frontera anticipates it will spend approximately US$120-$140 million on...

Latest News

Exxon cops OTC award for Liza developments offshore Guyana

The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso...