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FPSO contracts surge; Guyana contributing to global total this year – Rystad Energy

OilNOW -
The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease...
Exploration

Argentina movng forward with offshore drilling despite protests

OilNOW -
(S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural...
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Exxon’s latest discoveries add to 26 commercial finds in Guyana – oil minister

OilNOW -
The two oil discoveries announced by ExxonMobil on Wednesday add to 26 commercial finds in Guyana which the Ministry of Natural Resources said will further strengthen the South American country’s position as a major new oil and gas hotspot. Exxon...
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Oil slips from highest level in a month as U.S. stockpiles surge

OilNOW -
(Reuters) - Oil prices lost ground on Thursday, falling from their highest levels in more than a month after U.S. fuel stockpiles surged amid declining demand. The global benchmark Brent crude futures fell 63 cents, or 0.8%, to $80.17 a...
Exploration

Exxon says technology, global experience delivering unprecedented success in Guyana

OilNOW -
“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge. “We reached the huge milestone of declaring 10 billion...
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Guyana closes 2021 with over US$600M in NRF – Central Bank

OilNOW -
Bank of Guyana Governor, Dr. Gobind Ganga confirmed to OilNOW on Wednesday that the Natural Resource Fund (NRF) closed 2021 with US$608M on its balance sheet. He said the last lift, which occurred in November, raked in approximately US$74M. Guyana’s...
Exploration

Guyana scores big again as Exxon hits two more discoveries

OilNOW -
ExxonMobil and the Government of Guyana on Wednesday announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was...
News

Liza Unity start-up, gas-to-energy FID among major projects for Exxon this year – Routledge

OilNOW -
Guyana’s oil production will almost triple this year as the state-of-the-art Liza Unity floating production storage and offloading (FPSO) vessel comes on stream, adding to the output from its sister unit, the Liza Destiny. ExxonMobil is also looking to make...
News

EPA real time monitoring system to be launched soon

OilNOW -
Guyana’s Environmental Protection Agency (EPA) will soon launch a new technology system that will allow it to monitor the offshore exploration and production activities in real time. OilNOW understands the system is being tested and is likely to be officially...
News

CNOOC brings two new oil fields into production

OilNOW -
CNOOC Limited says Caofeidian 11-6 oilfield expansion project and Kenli 16-1 oilfield have commenced production. Caofeidian 11-6 oilfield expansion project is located in the west of Bohai Sea, with average water depth of about 23 meters. In addition to fully...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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