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Guyana and Suriname joining Brazil as South America’s hottest deepwater plays

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Offshore exploration and production activities in South America have long been dominated by Brazil with its vast offshore pre-salt developments. State oil company Petroleo Brasileiro SA (Petrobras) alone accounted for nearly 88% of the continent’s deepwater OPEX in the...
News

China oil giants considering buyout of Exxon’s stake in Iraq oil field

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(Bloomberg) --China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq, which could fetch at least $500 million, according to people familiar with the matter. The...
News

Noble Energy pushes back plans for Colombia well, Maersk Drilling retains exclusive option

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Noble Energy has taken a decision not to go forward with its planned one-well campaign offshore Colombia this year. Maersk Drilling said in its fleet status report on Friday that it has agreed with Noble Energy to amend the previously...
Exploration

It will take several wells to define Kaieteur Block opportunity – Hess

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Speaking just days before the results from the Tanager-1 prospect was announced, John Hess, CEO of Hess Corporation, a 15% stakeholder in the Kaieteur Block, said it will take several wells for the co-venturers to define the opportunity in...
News

Head of UAE investment group in Guyana for talks

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Sheikh Ahmed Dalmook Juma Al Maktoum of the United Arab Emirates (UAE) and an eight-member delegation arrived in Guyana on Thursday for a three-day official state visit during which support for the South American country’s emerging oil and gas...
News

TechnipFMC gets greenlight for LNG contract in Mexico worth over 1 billion dollars

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TechnipFMC has received notice to proceed with an Engineering, Procurement, and Construction (EPC) contract worth over 1 billion dollars, by Sempra LNG and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) at their Energía Costa Azul (ECA) liquefied natural gas (LNG)...
News

Saipem enters 12-year agreement with Saudi Aramco

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Saipem has signed a Long-Term Agreement (LTA) with Saudi Aramco for onshore engineering and construction activities. The deal, which is for a duration of twelve years, entails efficiency activities on existing facilities and is part of Saudi Aramco’s broader...
News

Payara subsea award is the largest since 2014

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Payara, ExxonMobil’s 3rd development at the Stabroek Block offshore Guyana, has made way for the award of the largest subsea contract in the oil and gas industry since 2014. This comes in a year which one industry analyst describes as...
News

Fabrication work to begin on giant Prosperity FPSO

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Fabrication work is set to begin on the giant Fast4Ward® MPF hull for ExxonMobil’s Payara Development offshore Guyana that will see the Prosperity FPSO pushing total oil production in the South American country to more than 500,000 bpd by...
News

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

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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,...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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