News

Marlim revitalization will add 860 million oil-equivalent barrels to Petrobras’ accumulated production

Petrobras estimates that the revitalization project of the Marlim field in the Campos Basin will produce an additional cumulative volume of 860 million barrels of oil equivalent.  Mariana Cavassin, Executive Manager of Production Development Projects at Petrobras, told participants at...

WoodMac estimates 4.6 billion barrels discovered offshore Suriname 

Consultancy Group, Wood Mackenzie puts Suriname’s oil resource count at more than 2.4 billion barrels and its natural gas resources at 12.5 trillion cubic feet (tcf).  Based on WoodMac’s numbers, assuming one trillion cubic feet of gas equals 176 million...

SBM Offshore ‘pre-selected as preferred bidder’ for TotalEnergies’ Suriname FPSO deal – Upstream sources

Upstream has reported that SBM Offshore could take the upper hand in competition with MODEC to build and deliver Suriname’s first floating production, storage and offloading (FPSO) vessel, as it was “pre-selected as the preferred bidder.” Fabio Palmigiani, the publication’s...

Suriname’s Roystonea, Fusaea discoveries could support 100,000 b/d development – WoodMac 

Petronas’ Roystonea-1 and Fusaea-1 discoveries in Block 52 offshore Suriname are estimated to hold recoverable resources approaching 400 million barrels, according to new numbers released by UK-based consultancy group Wood Mackenzie.  “This could be enough to support an FPSO ...

Touchstone sees 20% decline in oil, natural gas sales last quarter

Touchstone Exploration, a Trinidad-focused energy company, announced its financial outcomes for the first quarter of 2024, which note a 20% decrease in sales from oil and natural gas compared to the last quarter of 2023. In the latest quarterly financial...

Seatrium gets topsides fabrication and integration award for Jaguar FPSO

Seatrium Limited said it was awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of the Jaguar floating production, storage and offloading (FPSO) vessel destined for Guyana.  Seatrium’s scope of work...

Celebrating women’s leadership: The journey of the 25 Influential Women Leaders Awards

Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's achievements. This initial spark ignited the creation of the 25 Influential Women Leaders Award, aimed at amplifying the voices and...

Exxon identifies 600 million barrels of additional reserves in sanctioned Guyana projects

ExxonMobil Guyana has increased its estimate of reserves in its Stabroek Block development projects by 600 million barrels on top of the estimates announced when the projects were sanctioned. “We review the reserves of each project each year and make...

Petrobras CEO abruptly departs, Magda Chambriard named successor

Petrobras, the Brazilian oil giant, made a sudden announcement on Tuesday evening, about the departure of Jean Paul Prates from his position as Chief Executive. The company disclosed in a statement that it had received a request from Prates...

Old wounds reopen as Trinidad refuses dairy export from Guyana

Trinidad and Tobago last Monday denied entry for two containers of dairy products exported from Guyana. This has resulted in a whirlwind of condemnation from Guyanese business groups and the Guyana government. It has also reopened old tensions between...

Latest News

Hess facing three lawsuits over disclosures in Chevron deal

(Reuters) - Oil producer Hess (HES.N) on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over...