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Thirst for exploration to continue in 2021 with 38 High Impact Wells planned – IHS Markit

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The search for oil in key hotspots across the globe is expected to continue in earnest this year and this will see approximately 38 High Impact Wells (HIWs) being drilled, according to American-British information provider, IHS Markit. Jack Rivers, Director...
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Undeterred by heavy oil finds Eco says new Guyana campaign to target light crude play

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Undeterred by the results from the Jethro and Joe prospects on the Orinduik block which showed the presence of heavy oil, Eco Atlantic says it remains primed for a new campaign on the block which is expected to focus...
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Guyana operationalizes National Oil Spill Response Plan

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Guyana’s Civil Defence Commission (CDC) announced on Tuesday that it has operationalized the National Oil Spill Response Plan (NOSRP). In addition, the National Oil Spill Committee (NOCS) to support contingency planning and lead the policy direction of the management...
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Search for more oil in Suriname underway at Tullow-operated Block 47

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A new drill campaign is set to get underway by Tullow Oil offshore Suriname at the Goliathberg Voltzberg North-1 (GVN-1) prospect at Block 47, targeting over 230 million barrels of oil. According to Ratio Petroleum, a 20% stakeholder in the...
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Hess plugs over three-quarter billion dollars more into Guyana offshore operations

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Hess Corporation on Monday announced its 2021 Exploration & Production capital and exploratory budget of $1.9 billion with more than 41% allocated to offshore developments in Guyana where the company has a 30% stake in the prolific Stabroek block. CEO...
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Baker Hughes expanding digital capabilities, reducing emissions in new order with Petrobras

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Baker Hughes said on Friday an order has been confirmed with Petrobras to provide a suite of digital solutions across the state oil company’s sites in Brazil. The order, booked in the fourth quarter 2020, will further expand Petrobras’...
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2020 was costliest year in history for oil company bankruptcy filings

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The combined debt of North American Exploration & Production (E&P) and oilfield service companies that filed for Chapter 11 bankruptcy protection last year jumped to $102 billion, surpassing the $100 billion mark for the first time, a Rystad Energy...
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Guyana sends note of protest to Venezuelan authorities over detention of fishing vessels

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Guyana’s Minister of Foreign Affairs, Hugh Todd, on Monday transferred a protest note to the Venezuelan government over an incident that occurred on January 21, 2020 which resulted in Guyanese fishing vessels being intercepted and detained by the Venezuelan...
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Liza Destiny FPSO among top 5 highest scoring vessels for safety in SBM Offshore’s global fleet

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The Liza Destiny Floating Production Storage and Offloading (FPSO) vessel which is producing oil offshore the South American country of Guyana is among the top five highest scoring units for safety in SBM Offshore’s global fleet. The Dutch floater specialist,...
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Guyana accounts for US$15 billion in deepwater sanctioning since 2019

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Global consultancy group Wood Mackenzie says it expects another year of around US$300 billion in upstream development spend, down 30% on pre-crisis levels and 60% below 2014’s US$750 billion peak. Deepwater spend has been underpinned by US$50 billion in...
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ExxonMobil wins Upstream Operator of the Year for Guyana and Permian excellence

ExxonMobil has been named Upstream Operator of the Year at the Gulf Energy Information Excellence Awards, earning recognition for...

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