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Guyana invites India, and China to grab up oil blocks in ongoing licensing round

OilNOW -
India and China – two of Guyana’s biggest and longest development partners have been invited to throw in bids in the South American nation’s ongoing 2022 licensing round. A total of 14 deepwater and shallow-water blocks are up for grabs...
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Exxon’s 6th Guyana project targeting Whiptail, Pinktail, Tilapia fields

Kemol King -
ExxonMobil’s sixth Guyana project proposed for the Stabroek Block will develop the Whiptail, Pinktail and Tilapia discoveries, according to a project summary from the Environmental Protection Agency (EPA). Rystad Energy’s 2022 benchmarking update on Guyana estimates that these reservoirs have...
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Exxon selling stake in Esso Thailand as focus increases on Guyana, other lower-emissions assets

OilNOW -
ExxonMobil Corporation announced it has reached an agreement with Bangchak Corporation to sell its interest in Esso Thailand. This includes the sale of a refinery, select distribution terminals, and a network of Esso-branded retail stations.  Exxon said this transaction is...
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Anita Garibaldi vessel arrives in Brazil for Campos Basin operations

OilNOW -
Japan’s MODEC Inc. announced on Monday that the Anita Garibaldi MV33 floating, production, storage and offloading (FPSO) vessel has arrived in Brazilian waters and is scheduled for commissioning before being deployed to the Campos basin. MODEC said the final commissioning...
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Oil to fund almost 30% of Guyana’s 2023 budget

OilNOW -
Guyana’s Finance Minister on Monday presented a national budget of GY$781.9 billion (US$3.75 billion) for the fiscal year 2023, of which oil revenues will contribute 26.7%. The Minister said that GY$208.9 billion (US$1 billion) is legally allowable for withdrawal from...
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“Better than expected” Guyana’s oil economy grew 124.8% in 2022 – Finance Minister

OilNOW -
Guyana's Finance Minister Dr. Ashni Singh said the country's oil sector expanded by 124.8% in 2022. The Minister revealed this during his presentation of Guyana’s 2023 budget. A total of 101.4 million barrels of crude were produced in the full year...
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Guyana’s President among headliners for upcoming TT Energy Conference

OilNOW -
Guyana’s President Dr. Irfaan Ali will be among the other CARICOM heads of government to deliver feature remarks at the upcoming Trinidad and Tobago Energy Conference. T&T’s Energy Chamber – the official hosts of the signature event made the announcement. The...
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2023: Major wells to watch in South America’s hottest basin

OilNOW -
With high-impact drilling set to make a rebound in 2023, there are several high-impact wells in the Guyana-Suriname Basin to watch out for. Rystad Energy classifies high-impact wells through a combination of factors, including the size of the prospect, whether...
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Wait a while to talk renegotiation; show that investments in Guyana are stable – Bhagwandin

OilNOW -
Calls for Exxon’s Stabroek Block production sharing agreement to be renegotiated have not waned in some quarters. Guyanese economist Joel Bhagwandin says proponents are acting prematurely. He urges them to wait a few political cycles.  “The sanctity of an investment...
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Sri Lanka to auction around 900 offshore oil blocks

OilNOW -
Sri Lanka has joined the list of countries looking to garner as much investment as it can from offshore oil and gas resources. President, Ranil Wickremesinghe, recently finalised new regulations to allow for companies to sign an expression of...
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QatarEnergy deepens presence in Suriname with stakes across six offshore blocks

QatarEnergy has expanded its exploration footprint in Suriname’s offshore basin to six blocks, following the signing of Production Sharing...

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