News

ExxonMobil Guyana is moving ahead with fresh exploration drilling at the Barreleye-3 well in the Stabroek Block, continuing work to evaluate one of the discoveries that could help shape the next wave of development offshore Guyana. The drilling campaign is...

Suriname’s GranMorgu offshore oil development moved deeper into execution in the first half of 2026, with progress recorded across financing, subsea equipment, floating production storage and offloading vessel (FPSO) construction, and workforce preparation. The TotalEnergies-led project in Block 58 is...

ExxonMobil Guyana says its 2025 profit exceeded Guyana’s oil earnings because the company’s financial statements are prepared under international accounting rules, while the government’s oil take is determined under a separate cash-based cost recovery and profit-sharing system in the...

ExxonMobil Guyana Limited’s proposed Haimara project could require 24 to 60 wells, placing the gas-focused development in the middle of the Stabroek Block lineup by drilling scope. The figure, shown in a comparison of ExxonMobil Guyana’s offshore projects revealed during...

SLB Chief Executive Olivier Le Peuch says Venezuela’s oil sector recovery hinges on digital technology, artificial intelligence and workforce development. He made the remarks as the company deepened its long-running partnership with state oil firm Petróleos de Venezuela, S.A. (PDVSA)...

QatarEnergy’s latest oil find offshore Namibia has added fresh weight to the Orange Basin’s growing status as one of the world’s most closely watched frontier oil provinces. The company announced that the Merlin-1X exploration well in Petroleum Exploration License 39...

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...