News

Subsea7 installs 119 kilometers of pipe ahead of schedule for Guyana’s Gas-to-Energy project

Subsea7 said offshore pipelay for the Guyana Gas-to-Energy project was delivered 10-days ahead of schedule. “This was our first project in Guyana and involved the fabrication and S-Lay of 119 kilometers of rigid pipeline using Seven Borealis," said Chief Executive...

Exxon looking to acquire seafloor seismic services for Stabroek Block

ExxonMobil is looking to secure seafloor seismic services to enhance its activities at the Stabroek Block offshore Guyana where it has found more than 11 billion barrels of oil equivalent resources since 2015.  The company in a public request...

Eco Atlantic transfers stake in South African block to Africa Oil

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...

Bringing Hammerhead gas to shore among considerations for Exxon

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...

Second phase of Berbice training facility for completion in 2025

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...

TotalEnergies, QatarEnergy withdraw from South African offshore blocks

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...

Maduro declared winner but opposition says it won 70% of the vote

(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...

No other FPSO project in past five years achieved ramp-up like Prosperity 

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...

TotalEnergies optimistic of meeting US$9B budget for Suriname development

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...

Exxon’s Uaru and Whiptail projects could each target up to 275,000 b/d 

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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What happens to the parts of Guyana’s offshore blocks that contractors give back?

When ExxonMobil drilled the Liza-1 well in 2015, it confirmed the first major offshore oil discovery in Guyana —...