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Hess aiming to lift 23 million barrels from Stabroek Block for remainder of 2022

OilNOW -
Stabroek Block co-venturer, Hess, expects to lift some 23 million barrels of oil in the remaining quarters of the year, representing an increase in its initial output for 2022. John Rielly, Hess’ Chief Financial Officer made the disclosure to investors...
News

Hess targeting oil offshore Suriname at potential Stabroek Block play extension

OilNOW -
Much focus is being placed on Guyana’s oil and gas successes since the year began, but Hess Corporation is not taking its eyes off Suriname’s potential. In fact, during the company’s Q1 earnings call on Wednesday, Chief Operating Officer (COO) Greg...
News

Chevron acquires shallow Block 7 offshore Suriname

OilNOW -
Chevron has acquired a 1,867-square-kilometre shallow water acreage, called Block 7, offshore Suriname, the state oil producer, Staatsolie said on Wednesday. With an 80% participating interest, Chevron has obtained exploration, development, and production rights in Block 7. Staatsolie has the...
News

Hess’ 2022 first quarter net income soars to US$417M

OilNOW -
Hess Corporation reported on Wednesday morning that it held a net income of US$417 million, or US$1.34 per share, in the first quarter of 2022, compared with net income of US$252 million, or US$0.82 per share, in the first...
News

Exxon hikes capacity at Liza Destiny, schedules Payara for early startup

OilNOW -
In addition to the announcement of three new discoveries on Tuesday, ExxonMobil Guyana bore more good news with its hiking of production capacity at Liza Phase One and scheduled first oil for the Payara project. Liza Phase One The company increased...
News

At current oil price, Yellowtail Project holds GY$19.3 trillion worth of oil

OilNOW -
Ahead of its 2022 first quarter earnings call this morning, Hess Corporation disclosed that the Yellowtail Project is expected to develop a gross resource base of approximately 925 million barrels of oil. At current market price for Brent crude, (US$100...
Discoveries

Exxon is 5 for 5 offshore Guyana with success rate now exceeding 90%

OilNOW -
ExxonMobil has entered the new year with huge success off the coast of Guyana, delivering five discoveries from five attempts at hitting commercial crude in the block that keeps on giving. The company also increased its recoverable resource estimate...
News

Woodside targets 231 million barrels offshore Senegal; first oil on track for 2023

OilNOW -
Woodside Petroleum said it is on track to deliver first oil in 2023 from the Sangomar field, which Senegal authorities approved in January 2020. The government approved Phase One of this field development, which will target 231 million barrels. “This...
News

Guyana accessing US$27M IDB loan to boost human capital for managing oil resources

OilNOW -
The Government of Guyana will soon be able to utilize a US$27M loan from the Inter-American Development Bank (IDB) to help build up the human capital that is required to manage the nation’s massive oil resources. The financial agency outlined...
News

TechnipFMC moves all subsea assembly from Trinidad to Guyana with new Houston Base

OilNOW -
From wellheads to pipelines, TechnipFMC is one of the leading technology providers in the traditional and new energies industry, delivering fully integrated products and services. TechnipFMC established a presence in Guyana back in 2016 and six years later, on Tuesday,...
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The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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