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Tullow exits Uganda after 16 years in $575 million assets sale to Total

OilNOW -
Tullow Oil announced on Tuesday that the sale of its assets in Uganda to Total has completed with $500 million consideration received. Tullow is also due to receive a further $75 million when a Final Investment Decision is taken...
Exploration

Liza Destiny, drillships rack up over 11 million hours without lost time injury offshore Guyana

OilNOW -
Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million acres Stabroek Block. The Liza Destiny FPSO, built and operated by SBM Offshore, arrived in...
News

ExxonMobil drilling 14th well for Liza Phase 1 development ahead of evaluation exercise

OilNOW -
ExxonMobil will be embarking on an assessment of the Liza Phase 1 Development reservoir results at the prolific Stabroek Block, where the Liza Destiny FPSO is currently producing oil offshore Guyana. The Noble Bob Douglas is currently drilling the...
News

Saipem building construction yard with ‘largest heavy lift crane’ in Guyana, local team executing work

OilNOW -
Saipem said on Monday it has received authorization to proceed with the final phase of the Payara development project in Guyana from ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL). This authorization allows for the finalization of the...
News

Apache says Kwaskwasi is its ‘best well’ offshore Suriname

OilNOW -
Apache Corporation remains highly enthusiastic about prospects offshore Suriname and the discoveries it has made to date at Block 58, labelling the last target where it hit pay – Kwaskwasi-1 – as the ‘best well’ encountered so far. Kwaskwasi-1, announced...
News

No drill date yet from CGX for Corentyne block

OilNOW -
Even though it has identified a high-grade lead in the northern region of the Corentyne block, CGX Resources Inc. has not yet indicated when it will commence a drilling programme. In its quarterly highlights for the period ended June 30,...
News

Brent crude climbs above $40 as Biden’s win buoys risk-taking

OilNOW -
(Reuters) - Oil prices rose more than 2% on Monday, with Brent futures topping $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetites, offsetting worries about the impact on demand from the worsening coronavirus...
News

Biden Presidency will set US on course to achieve climate change goals by 2050 – Wood Mackenzie

OilNOW -
Following his defeat of incumbent Donald Trump in the 2020 United States presidential election, many industry analysts have begun examining the consequences of a Joe Biden presidency on the US Energy sector. In its most recent analysis, global energy...
News

Investors pouring in ‘almost every single day’ into South America’s newest hot spot – oil minister

OilNOW -
Investor interest in the South American country of Guyana, now an emerging regional oil producing powerhouse, is at an all-time high with the country’s oil minister saying meetings with government officials are being sought on an almost daily basis. “Almost...
News

Shipping corporation in Guyana urged to use waterside assets to cash in big from O&G opportunities

OilNOW -
The Guyana National Shipping Corporation (GNSC) is being urged by authorities to position its waterside commercial facilities to benefit from the growing business opportunities in the new oil producing nation. Speaking at the recent swearing in of the GNSC Board...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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