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Exploration

Stabroek Block – multiple prospects and play types

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The Stabroek Block, located approximately 120 miles offshore Guyana, covers an area of 6.6 million acres (26,800 square kilometers). The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional...
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Gas pipeline could be Guyana’s lifeline to rapid industrial development

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New oil producer Guyana is looking to move forward with a US$900 million gas-to-energy project which authorities say will play a major transformational role in the country’s development. The project, to be located at the Wales Development Zone, West Bank...
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All eyes on “one of the most exciting exploration wells in the world” – it’s been long in coming

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CGX Energy is finally back in the game. The company has faced some challenges with its activities in Guyana where it has been operating since 1998. Its operations were stymied by a maritime border spat between Guyana and Suriname...
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Petrobras begins production at largest FPSO in Brazil

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Petrobras began producing oil and natural gas on Monday from the FPSO Carioca the first definitive production system installed in the Sepia field, in the pre-salt of the Santos Basin. The Brazilian state oil company said this will be...
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“It’s incredibly rare for an industry to get a decades-long notice that its business is under threat” – Ellacott

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Oil and gas companies must use the current cash flow windfall opportunity to speed up decarbonisation of their businesses, global natural resources consultancy Wood Mackenzie said in a report released last Thursday. Stakeholders are demanding greater accountability for carbon emissions along the value...
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From Tina to Liza – the floater that made Guyana an oil producer

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The vessel that produced Guyana’s first barrel of oil on December 20, 2019, marking the start of a journey for the South American country that will see it becoming a major producer this decade, was converted from a ship...
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ExxonMobil extends selection of second drill target on Kaieteur block by 7 months

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Westmount Energy Limited said on Monday it noted the announcement by Ratio Petroleum Energy Limited over the weekend that the date for elective nomination of the second drill target on the Kaieteur block has been extended by seven months,...
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CGX Energy spuds Kawa-1 offshore Guyana

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Updated August 23, 2021 – 08:00 hrs The sixth-generation semi-submersible drilling rig Maersk Discoverer is currently in Guyana waters for a drill campaign at the Kawa-1 well site on the Corentyne block. The well site is situated approximately 90 nautical...
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Crude oil futures climb after several days of losses

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(S&P Global Platts) Crude oil futures were higher in mid-morning trade in Asia August 23 amid bargain hunting by investors after the rout in oil prices last week, with analysts noting the demand outlook remained optimistic as the West...
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First 6 FPSOs can develop up to half of all oil found so far at Stabroek Block – ExxonMobil

OilNOW -
Updated August 22, 2021 Around 50 percent of the 9 billion barrels of oil equivalent discovered so far at the prolific Stabroek Block offshore Guyana can be developed by 6 Floating Production Storage and Offloading (FPSO) vessels and an additional...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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