News

The ExxonMobil-led consortium in Guyana's Stabroek Block has recovered more than US$51 billion of the over US$55 billion in expenses they incurred to explore and develop the area.  John Colling, ExxonMobil Guyana's Vice President and Business Services Manager, said approximately...

TotalEnergies plans to carry out geophysical and geotechnical surveys at four planned exploration and appraisal well locations in Block 58 offshore Suriname. The surveys will be conducted at the Profosu, Fremosoe, Marbonsoe, and Sagoewenki locations. They will be done through...

ExxonMobil says its Guyana project rollout is being supported by a repeat-build approach that allows the company to apply one development model for floating production, storage and offloading (FPSO) vessels across multiple offshore projects. Neil Chapman, Senior Vice President of...

SLB’s OneSubsea joint venture has secured a contract from bp to supply a subsea boosting system for the Thunder Horse development in the deepwater Gulf of America.  According to a release issued June 8, the award covers engineering, procurement, and...

Venezuela has advanced five agreements with Shell to develop the 7-trillion-cubic-foot Loran gas field.  The agreements, signed on June 11, formalize Shell’s participation in Loran, a cross-border reservoir shared with Trinidad and Tobago, while also covering oilfield production expansion and...

ExxonMobil Guyana will continue deepwater development operations at the Uaru and Whiptail fields in the Stabroek Block, supported by anchor handling tug (AHT) and firefighting vessels, according to Notices to Mariners issued on June 11. The Maritime Administration Department said...

Mud plant expansion is leading Halliburton Guyana Inc.’s latest round of contracting opportunities, with the company opening multiple procurement exercises across infrastructure and equipment supply. The company published several Expressions of Interest (EOIs) through Guyana’s Local Content Register, covering projects...

Petrobras has signed an agreement with Equinor to acquire a 50% stake in the Itaimbezinho offshore exploration block in Brazil’s Campos Basin, strengthening an existing partnership in one of the country’s key oil-producing regions.  The deal, announced in a June...

ExxonMobil says the proposed production increase at the Yellowtail development offshore Guyana has the potential to maximize revenue for both the Guyana government and the Stabroek Block co-venturers.  “As you're aware, ExxonMobil Guyana Limited, as the operator, is always looking...

Guyana could receive more than US$10 billion annually from the Stabroek Block by 2030, according to ExxonMobil Guyana Limited Vice President and Business Services Manager John Colling, who cited projections from the International Monetary Fund during a press briefing...