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Significant data gathered from Tanager well, no clarity yet on quality of oil – Ratio Guyana

OilNOW -
Large amounts of geological and geophysical data were gathered during the drilling of the Tanager-1 well at the Kaieteur Block offshore Guyana and these findings are expected over the next few months. Ratio Guyana, a 25% stakeholder in the block,...
News

Pandemic downturn wipes out 28,000 oil and gas jobs in Australia

OilNOW -
The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing a loss of over 28,000 jobs this year, equivalent to a quarter of the country’s total count, a Rystad Energy analysis reveals. Some of these jobs...
Exploration

Tanager results a reminder that exploration is a risky, expensive business – Ramnarine

OilNOW -
The results from the Tanager-1 exploration well at the Kaieteur Block offshore Guyana announced on Tuesday brings back into focus the risky nature of exploration, even in a basin where the success rate has been well above 90 percent. Since...
News

Guyana government recommits to robust business environment as economy set to take off

OilNOW -
Guyana’s President, Dr. Irfaan Ali has promised that the new administration will work towards the development of a robust business environment that promotes wealth and job creation. He voiced this commitment last week during an address to the members...
News

ExxonMobil looking to establish high-speed fibre-optic service linking offshore, onshore operations

OilNOW -
In an effort to ensure production within the Stabroek Block is efficiently managed at all times, ExxonMobil Guyana plans to implement a secure, high-speed fibre-optic/wireless transport service. The project will ultimately connect the oil major’s onshore and offshore facilities...
News

ExxonMobil plans to evaluate Tanager-1 well data, continue search for hydrocarbons

OilNOW -
ExxonMobil Guyana said on Tuesday it will be looking to evaluate results from the Tanager-1 well at the Kaieteur Block offshore Guyana where hydrocarbon resources discovered were not in commercial quantities. “We can confirm that Tanager-1, the first well in...
News

Tanager-1 is non-commercial, well to be plugged and abandoned

OilNOW -
The Tanager-1 exploration prospect - the deepest well ever drilled in the Guyana-Suriname Basin to date – is being considered as non-commercial as a stand-alone development. According to a press update from Ratio Guyana Limited, which has a 25% interest...
News

Suriname is 2nd in the world for volume of oil discovered this year, Guyana remains big prize in basin

OilNOW -
Of the 73 new discoveries announced this year (through October), Suriname has emerged as the number two location for the volume of oil found, second only to Russia. According to a new report from Rystad Energy, exploration activity has...
News

Guyana offshore remains highly competitive – a major plus in current market conditions

OilNOW -
The oil being produced offshore Guyana is a low sulphur high-quality blend which together with lower breakeven costs, will continue to benefit from investor interest and high demand, given the shift from heavier fuels due to environmental regulations and...
News

Staatsolie opens new bid round for 8 blocks offshore Suriname

OilNOW -
Eight blocks covering an area of over 13,524 km2 of underexplored but highly prospective acreage in the western part of the Suriname offshore basin went on offer on Monday by Staatsolie Maatschappij Suriname N.V. According to bid documents seen by...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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