News

When one considers the low breakeven cost of the Yellowtail project despite projected inflationary pressures, it still emerges as “one of the best projects on the planet,” says Hess Corporation’s Chief Operating Officer (COO), Greg Hill. He made this...

ExxonMobil says it truly believes that building local capacity will play a key role in maximising benefits to the people of Guyana and fully supports a pragmatic and collaborative approach aimed at achieving this objective. “This year, we have participated...

Hess Corporation disclosed during its earnings call on Wednesday that it closed the 2021 third quarter with a net income of US$115 million, or US$0.37 per common share, compared with a net loss of US$243 million, or US$0.80 per...

Maersk Drilling announced on Thursday the successful closing of the previously announced divestment of the combined drilling and production unit Mærsk Inspirer (now named Inspirer) to Havila Sirius for a price of USD 373m in an all-cash transaction. This transaction divests...

The greenhouse gas (GHG) emissions that would be released from ExxonMobil’s fourth development project at the Yellowtail field will be reduced by 80% as a result of the mitigation measures the company will be utilizing. This was highlighted in...

Guyana’s largest floating production storage and offloading (FPSO) vessel arrived offshore this week for oil production activities at the ExxonMobil-operated Stabroek Block. The U.S. oil major says it is confident that the equipment on the SBM Offshore built and...

Guyana’s Head of State, Dr. Mohamed Irfaan Ali has once again issued a clarion call to the United Nations General (UN) Assembly to act now and limit global emissions to 1.5 degrees Celsius if the world wishes to avoid...

With the arrival of Liza Unity floating, production, storage and offloading (FPSO) unit, Guyana’s oil production is expected to triple by 2022 as the vessel is set to develop approximately 600 million barrels of oil. ExxonMobil Guyana in a statement...

Guyana’s Ministry of Natural Resources announced on Tuesday the arrival of the Liza Unity floating, production, storage, and offloading (FPSO) vessel in the Stabroek Block offshore Guyana. The Ministry said the vessel arrived in Guyanese waters after traveling for approximately...

French multinational manufacturing company Vallourec said Tuesday it has signed a 10-year frame agreement with ExxonMobil Guyana to supply line pipe products for its offshore operations in the new oil producing South American country. The agreement enables long-term line pipe supply...