News

Guyana’s annual oil exports are expected to triple in value from US$11 billion in 2023 to US$33 billion by 2030, according to a recent report from S&P Global Commodity Insights.  "In real terms, the value of Guyana's oil production is...

Italian multinational oilfield services company Saipem has received authorization from ExxonMobil Guyana Limited and its Stabroek Block coventurers to proceed with the execution of the giant Whiptail oilfield development project. Saipem said at the weekend that the authorization has been...

ExxonMobil Guyana is forging ahead with developmental drilling operations at the Uaru well site within Guyana’s Exclusive Economic Zone on April 6, 2024.  According to a notice from Guyana’s Maritime Administration Department (MARAD), the Stena DrillMax is spearheading the drilling...

ExxonMobil’s cost estimate for the Whiptail development, recently approved by the Guyana government, has been slashed by approximately US$200 million. The project is targeting production of 850 million barrels of oil at 250,000 barrels per day (b/d). At the stage...

The government of Guyana issued two main permitting documents to the ExxonMobil-led consortium pursuing the Whiptail development.  Minister of Natural Resources, Vickram Bharrat, issued the Petroleum Production License on April 12, 2024.  See below:  Whiptail Petroleum Production License Download Executive Director of the...

Hess warned in a filing to the U.S. Securities and Exchange Commission (SEC) that its acquisition by Chevron could be pushed to 2025, Reuters reported.  Hess and Chevron had intended to close the sale in the middle of 2024. The delay...

Subsea7 announced the award of a sizable contract by Talos Energy for the Sunspear development in Green Canyon Block 78, in the Gulf of Mexico. The deal is valued in the range US$50-150 million. The project involves the subsea tie...

The US$12.7 billion Whiptail development is targeting an estimated resource base of more than 850 million barrels of oil, Hess Corporation said. The project will utilize the Jaguar floating production, storage and offloading (FPSO) vessel, to be delivered by...

ExxonMobil has awarded contracts to SBM Offshore to build and deploy the Jaguar floating production, storage and offloading (FPSO) vessel for the Whiptail development at Guyana’s Stabroek Block.  Under the terms of the agreement, ownership of the Jaguar vessel will...

Mega project to start-up in 2027 The final investment decision (FID) for ExxonMobil’s sixth Stabroek Block development, Whiptail, has been made, the company announced on Friday.  The project, after ramping up, will add 250,000 barrels of oil per day to Guyana...