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Exploration

CGX delivers historic discovery after more than 2 decades on the hunt

OilNOW -
After more than 20 years of seismic data acquisition and drilling, CGX Energy Inc. has finally landed its first oil discovery in Guyana at the Kawa-1 well on the Corentyne Block which appears to rival some of the notable...
Exploration

Exxon delivered big results in Guyana last year as discoveries plummeted globally

OilNOW -
Oil and Gas explorers around the world had high hopes pinned on 2021 as pandemic restrictions eased and wildcat wells deferred from the year before were given the green light. But according to Rystad Energy, despite an impetus from...
News

ExxonMobil undertakes major restructuring; cost savings to exceed US$6B

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ExxonMobil Corporation disclosed on Monday that it is undergoing a significant restructuring process that will result in over US$6 billion in cost savings by 2023, compared to 2019. Effective April 1, the company will be organized along three business lines...
News

2022 marks pivotal year in Guyana’s transformation as landmark projects set to roll out

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The Guyana government is sparing no expense to facilitate the transformation of the country's infrastructure with billions in funding being set aside this year for major development projects in the oil producing South American nation. The government said last week...
News

Guyana oil revenue to more than triple this year

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Authorities in Guyana have projected that the country will receive close to US$1 billion in oil revenue this year, representing more than three times what it has earned per annum to date from the Liza Phase 1 Development. During his...
News

Hess could lift around 24 million barrels of oil from Stabroek Block this year

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When the Liza Phase 2 development comes on stream this quarter and reaches full production later this year, Hess Corporation expects to collect 24 lifts from its Guyana operations. It would also be well positioned to clear off its...
News

Guyana on track to rake in around US$90 million for first oil lift this year

OilNOW -
Oil prices rose to a more than seven-year peak at the weekend and recorded their sixth straight weekly gain with Brent climbing to $90.03 a barrel, after hitting $91.70 early Friday, the highest level since October 2014. OilNOW understands preparations...
News

Payara project 66% complete; start-up on track for 2024

OilNOW -
The Payara development, the third project in the ExxonMobil-operated Stabroek Block, is 66 percent complete. This is according to Hess Corporation’s Chief Operating Officer (COO), Greg Hill. During the company’s Q4 2021 earnings call, Hill said Subsea Umbilicals, Risers and...
News

New Flash Gas Compressor to be installed on Liza Destiny FPSO by mid-year – Exxon

OilNOW -
While the third-stage Flash Gas Compressor (FGC) on the Liza Destiny FPSO continues to operate steadily, ExxonMobil Guyana said on Friday that upgrades on the new replacement equipment are still advancing, with the installation date now set for mid-year. The...
News

Over 4,000 Guyanese to be trained for work in oil & gas

OilNOW -
The Guyana government has allocated GY$420.5 million (US$2.1 million) this year to train Guyanese for jobs in the country’s rapidly expanding oil and gas sector. This was announced by Senior Minister in the Office of the President with responsibility...
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High-tech seismic campaign offshore Guyana to wrap up in December

ExxonMobil Guyana will complete its latest seismic data acquisition campaign in December, marking the end of a months-long effort...

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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