News

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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...