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CGX examining options to meet increasing costs for Wei-1 well

OilNOW -
With the drilling costs for the Wei-1 well on the Corentyne Block jumping from the initial US$160 million estimate to a range of US$175 million – US$190 million, shareholders for Frontera Energy Corporation have expressed concern about the capacity...
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Petrobras expects start-up of FPSO Almirante Barroso in 2Q23 as diesel, gasoline and jet fuel yields increase in 1Q23

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Petrobras, the Brazilian state-run oil and gas company, on May 9 announced that its average oil, natural gas liquids (NGL), and natural gas production reached 2.68 million barrels of oil equivalent per day (MMboed) in the first quarter of...
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Is Exxon’s profit waning? Here’s what analysts are saying

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Oil majors raked in big bucks in 2022. It was a great year for oil and gas profits. ExxonMobil Corp made a whopping US$55.7 billion in earnings for the full year, up from US$23 billion in 2021 – a US$32.7...
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Noble Discoverer will leave to drill Colombia well after Wei-1

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Noble Corporation said it has been awarded a contract for utilisation of the Noble Discoverer offshore Colombia.  The award, made by Ecopetrol, is for the drilling of the Orca North-1 well in Q4, 2023.  The rig is currently under contract for...
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Dyna-Mac net order book up to US$457.8 million as fresh contracts secured 

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Singapore-based engineering firm Dyna-Mac Holdings Ltd. has announced that it has secured several firm contracts from its repeat customers, totaling a provisional sum of US$203.3 million (S$270 million).  The contracts include the construction of Topside Modules for a Floating Production,...
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Touchstone Exploration’s Q1 2023 production more than doubles from last year

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Trinidad’s Touchstone Exploration said its average production for the first quarter of 2023 more than doubled compared to the same period last year.  In its announcement, Touchstone said it produced 2,139 oil-equivalent barrels per day (bpd), representing a 53% hike...
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Yellowtail Development Fact Sheet

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Next up on ExxonMobil’s Stabroek Block development list is Yellowtail - one of the largest ever sanctioned. Coming in at US$10 billion, the project is running ahead of schedule; with the production vessel 45% complete and preparatory works progressing...
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US, UK, Norway to ramp up oil exploration and production 

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As the need for an energy transition becomes increasingly apparent, a paradoxical trend has emerged. Several developed countries, including the United States, United Kingdom, and Norway, are expanding their petroleum exploration and production activities, raising concerns about hypocrisy, as...
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Development drilling ramps up at Liza 2 well site

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Development drilling continues at ExxonMobil Guyana’s Liza site in the Stabroek Block with the Noble Tom Madden drillship.  Guyana’s Maritime Administration (MARAD) said activities commenced on May 6 and will end on June 30 with 29 additional support vessels.  The well...
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Equinor advancing Brazil project with subsea contract to TechnipFMC

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TechnipFMC said it has been awarded a major (>US$1 billion) contract for an integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project by Equinor Energy do Brasil Ltda., a subsidiary of Equinor ASA (Equinor). TechnipFMC Guyana team cops ExxonMobil safety award...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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