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Exploration

Analysis points to massive Guyana basin oil resources, huge production estimates

OilNOW -
An analysis written by The Value Portfolio, published on crowd-sourced content service provider Seeking Alpha says Guyana is a game-changer and is defining a new era for ExxonMobil with current discovered assets touching almost 11 billion barrels stretched across...
Exploration

Barreleye, Tilapia could deliver more pay at Guyana’s largest block

OilNOW -
The Noble Don Taylor is continuing exploration drilling operations at Barreleye-1 situated approximately 90.87 nautical miles (167.98 kilometers) offshore Guyana at the ExxonMobil-operated Stabroek Block, covering an area of 0.29 square nautical miles. Meanwhile, the Stena Carron will be engaged...
News

Organisers moving forward with February energy conference in Guyana

OilNOW -
Organisers of the International Energy Conference and Expo slated to be held next month in Georgetown, Guyana say they have noted the increase in COVID-19 cases in the South American country and will be taking all precautions in keeping...
News

Team led by Harvard Professor helping Guyana shape landmark development plan

OilNOW -
Hess Corporation’s Chief Executive Officer (CEO), John Hess on Thursday said his company and ExxonMobil Corporation are genuinely interested in seeing Guyana becoming a success story with its massive oil wealth. It is for this reason the two companies...
News

“We have the best cash flow story in the business” says Stabroek Block co-venturer

OilNOW -
After years of strategic investments behind exploration and development efforts in Guyana’s Stabroek Block, Hess Corporation declared 2022 as the year it reaps the billion-dollar rewards of its patience and labour. According to its Chief Executive Officer (CEO), John Hess at...
News

Vessels operating offshore Guyana must now have Seafarers’ Employment Agreement onboard – MARAD

OilNOW -
Guyana’s Maritime Administration Department (MARAD) says with effect from January 5, 2022, all seagoing vessels over 24 metres in length are required to have a copy of the Seafarers’ Employment Agreement, for each seafarer, on board. The MARAD notice, directed...
API

Fangtooth-1 unlocks new play; will ‘add significantly’ to 10-billion-barrel oil resource – Hess

OilNOW -
While the recent Fangtooth-1 discovery augments the list of over 20 significant finds in the Stabroek Block by operator ExxonMobil, its value should not be overlooked or underappreciated, says Hess Corporation’s Chief Executive Officer (CEO), John Hess. During Goldman Sachs’...
News

Guyana seeking consultancy firm to review Yellowtail Field Development Plan

OilNOW -
The Government of Guyana is inviting highly qualified consultancy firms to submit technical and financial proposals for the review and evaluation of ExxonMobil’s Field Development Plan (FDP) for its US$9B Yellowtail Project which is targeting 250,000 barrels of oil...
API

Ali gov’t gave clear instructions for oil pursuit to be cost effective, environmentally friendly, says Hess CEO

OilNOW -
While both President, Dr Irfaan Ali and Vice President, Dr. Bharrat Jagdeo have categorically stated that Guyana has a right to develop its oil resources for the benefit of its people, it has no intention of allowing the Stabroek...
News

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...
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