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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...
News

Oil jumps to $80 as OPEC+ moves forward with planned 400,000 bpd increase

OilNOW -
(Reuters) - Global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only...
News

Twelve FPSOs delivering over 1.5 million barrels of oil per day could be on the horizon, says gov’t official

OilNOW -
A senior government official told lawmakers last week that Guyana must prepare for a massive uptick in demand for a range of goods and services driven by what can become a 12-FPSO, 1.5 million barrels of oil per day...
News

Exxon expects benefits from massive Guyana offshore operations to reach across country

OilNOW -
Now in its second year of oil production, Guyana’s oil and gas industry is still in its infant stage. The massive operations offshore are driving exploration activities across several blocks and production at the giant Stabroek Block where ExxonMobil...
News

Busy year ahead for Ecuador oil sector as gov’t moves to ramp up investments

OilNOW -
(S&P Global Platts) Ecuador's oil and gas industry is on track for a busy year of privatization and E&P contract overhauls in 2022 as President Guillermo Lasso seeks to open up the heavily indebted Andean country to foreign investment. Lasso's...
Exploration

Drilling in ‘super plays’ like Guyana will intensify this year – WoodMac

OilNOW -
Globally, deepwater will remain an exclusive sector with few operators, and oil majors will continue to dominate, accounting for 45% of planned deepwater drilling in 2022, particularly in ‘super plays’ like Guyana, Suriname and Brazil. According to new insight from...
News

Guyana guarding against market volatility under new oil fund rules

OilNOW -
The fiscal rule for Guyana’s Natural Resources Fund (NRF) will not be based on future projections of oil prices but on the previous year’s revenue. With this mechanism in place, the new oil producing South American country hopes to...
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NewsIşıl Güneş -

Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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