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Hess reports US$252 million net income for Q1 2021, says Guyana projects remain on schedule

OilNOW -
Hess Corporation which holds a 30 percent stake in the Stabroek Block offshore Guyana reported on Wednesday a net income of of US$252 million for the first quarter of 2021. Turning its attention to operations at the Stabroek Block, the...
News

Exxon confirms Yellowtail as 4th development being targeted at Stabroek Block

OilNOW -
In announcing its 19th oil discovery at the Stabroek Block offshore Guyana on Tuesday, ExxonMobil also confirmed that it will be pursuing its fourth development in the Yellowtail area located 19 miles (30 kilometers) southeast of the Liza developments....
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Disputes over tax, contract terms see Uganda struggling to reach first oil since major discoveries in 2006

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Uganda's long-delayed maiden oil project took a vital step to becoming more than a pipe dream this month but risks still hang over hopes of new export flows from East Africa, S&P Global Platts said in a report on...
Exploration

Exxon hits pay at Uaru-2 in 19th Guyana oil discovery

OilNOW -
ExxonMobil announced on Tuesday its 19th discovery offshore the South American country of Guyana at the Uaru-2 well which will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be...
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Over 20 locations were examined for gas to power project and multiple studies conducted, government affirms

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Guyana’s Vice President and officials from the Gas to Power Generation Taskforce held a lengthy session with the media on Monday to explain the background and current plans related to the estimated US$900 million project aimed at landing a...
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Brazil oil production falls 6% in first quarter

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(Reuters) - Oil production in Brazil fell 6% in the first quarter from a year earlier, according to National Petroleum Agency (ANP) figures seen by Reuters on Monday, led by a drop in output from state-run oil giant Petrobras. Brazil...
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Gas pipeline to be funded from cost oil, project pegged at around US$900M – Task Force

OilNOW -
Head of Guyana’s Gas to Power Generation Taskforce, Winston Brassington, revealed on Monday that the current estimates for the project which is expected to deliver affordable power to the nation of just over 750,000 people should cost approximately US$900M. During...
News

Graduate Engineers eager to begin overseas training on massive Prosperity oil production vessel

OilNOW -
Dutch floater specialist SBM Offshore is forging ahead with expanding its local workforce in Guyana where it is currently operating one oil production vessel with two more under construction for developments offshore the South American country. The Liza Destiny Floating...
Exploration

Exploration drilling continues at Koebi-1

OilNOW -
The Stena Carron rig is resuming drilling operations at the Koebi-1 prospect in the prolific Stabroek Block offshore Guyana after an initial operation at the well site in March. The well is situated approximately 120.6 nautical miles (223.4 kilometers) from...
Exploration

Bahamas Petroleum looking to ramp up production in T&T, Suriname

OilNOW -
Bahamas Petroleum Company plc said Friday it will be embarking on a comprehensive program of activities that will see an increase in production and cashflow from operations in Trinidad and Tobago and Suriname. In a Notice of Extraordinary General Meeting and Circular,...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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