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EPA approves additional 60-day period for flaring, payment increased to US$45 per tonne

OilNOW -
The Environmental Protection Agency (EPA) in Guyana has approved an additional 60-day period for flaring of associated gas on the Liza Destiny FPSO for the period July 25 to September 22, 2021. This is to be conducted at a...
News

Close to 100 percent of gas now being reinjected on Liza Destiny FPSO

OilNOW -
The full gas compression system on the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel is now operating, ExxonMobil said in an update on Friday. OilNOW understands that the team continues to perform maintenance and optimization activities with the...
News

Exxon reports $4.7B in earnings, plans to increase spending on key projects including Guyana

OilNOW -
Exxon Mobil Corporation announced on Friday estimated second-quarter 2021 earnings of $4.7 billion compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021...
Exploration

WoodMac projects multi-billion-dollar revenues for Guyana as discoveries grow

OilNOW -
The announcement this week by U.S. oil major ExxonMobil that it has discovered more oil off the coast of Guyana further enhances the outlook analysts have had for the new oil producing country. Additional volumes being discovered at the...
News

TotalEnergies aiming to prioritize low carbon intensity in new oil & gas projects

OilNOW -
(S&P Global Platts) France's TotalEnergies will specifically assess the carbon intensity of hydrocarbon projects while deciding on investment plans, as part of its ambitious decarbonization strategy, the company's CEO and Chairman Patrick Pouyanne said July 29. Pouyanne, speaking on a...
News

Guyana government moving to strengthen private proprietary interests related to land under Petroleum Act

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, will introduce and provide first reading of the 'Petroleum (Exploration and Production) (Amendment) Bill 2021' in the National Assembly on August 3. The Bill seeks to amend section 52 of the Petroleum (Exploration...
Exploration

More oil for Suriname: TotalEnergies and Apache announce new discovery

OilNOW -
TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi. Located 4 kilometers south-east of the Sapakara...
Exploration

Pinktail, Tripletail, Cataback and Fangtooth – exploration soars at hottest new basin

OilNOW -
All named after fishes, the exploration wells at the Stabroek Block continue to deliver massive hydrocarbon resources with a double oil strike announced on Wednesday at the Whiptail area and a major line-up of new prospects being targeted by...
News

Guyana looking to expedite offshore drill campaigns as discoveries balloon

OilNOW -
The Guyana government is pushing for major expansion of exploration and development of its vast hydrocarbon resources offshore and said it will be doing so with the highest level of compliance and transparency. Natural Resources Minister, Vickram Bharrat said Wednesday...
News

Guyana’s prime oil assets address world’s dual challenge on energy supply, emissions reduction – Hess

OilNOW -
Even as world leaders make big commitments to transition to renewable energy so as to achieve net-zero emissions by 2050, oil will still be needed along the way to meet global needs. During his company’s 2021 Q2 Earnings call,...
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U.S. Senator proposes law to strengthen security cooperation with Guyana amid Venezuela threats

United States Senator Michael Bennet (Democrat, Colorado) has proposed new legislation aimed at enhancing security cooperation with Guyana, deterring...

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