News

ExxonMobil Guyana’s proposed 35-well campaign for the Stabroek Block is expected to have little to no adverse impacts on the nation’s fishing industry. In fact, Exxon’s Cumulative Impact Assessment (CIA) Report by ERM Guyana Inc. notes that the nation’s current...

To ensure it stays on track for rapid economic diversification, Vice President, Dr. Bharrat Jagdeo said on March 3 that Guyana is in talks with India to utilise its technological inventions to boost agricultural output. The official said India...

Given the industry-leading rate of discoveries in the Stabroek Block, there may be a need for more than 10 floating, production, storage and offloading (FPSO) vessels to take off the resources. This was confirmed by Hess Corporation’s Chief Executive...

Tullow Oil has written off US$97.7 million in costs related to the Kanuku and Orinduik blocks.  Kanuku block write-offs amount to US$75.3 million, related to unsuccessful well costs, as well as license relinquishments. Repsol, the operator, drilled the Beebei-Potaro well...

Since the commencement of operations in 2015 to support ExxonMobil Guyana’s two offshore production vessels, the nation has earned in excess of GY$720 billion (US$3.45 billion). Should the Environmental Protection Agency (EPA) grant approval for the oil major’s 35-well...

Noble Corporation said its 2022 revenues for the year ended December 31, 2022 amounted to US$1.4 billion, with the King of the pile being its Guyana operations at US$469 million. Guyana, therefore, accounts for a third of Noble’s 2022...

Jean Paul Prates and Wael Sawan - the Chief Executive Officers (CEO) of Petrobras and Shell respectively inked a five-year deal that will see both oil companies joining forces to identify potential upstream opportunities.  The deal - signed on the...

Hess Corporation’s Chief Executive Officer (CEO), John Hess has assured shareholders that the Guyana government will not be swayed by calls for a change of terms in the Stabroek Block Production Sharing Agreement (PSA). During a recent energy conference, Hess...

Hess Corporation, a 30% stakeholder in Guyana's Stabroek Block, has assured the market that the co-venturers stand ready to comply with the relinquishment provisions in the 2016 Production Sharing Agreement (PSA). The company also told shareholders that the 20%...

Development drilling at ExxonMobil Guyana’s Payara field continues in preparation of the Prosperity floating production, storage and offloading (FPSO) vessel’s arrival from Singapore. MarineTraffic estimates the vessel will arrive in mid-April. According to Guyana’s Maritime Administration (MARAD), the development activities...