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More time granted to Tullow for drill or drop decision on Jamaica exploration

OilNOW -
United Oil & Gas PLC said Tuesday that the Production Sharing Agreement on the Walton Morant Basin offshore Jamaica, operated by Tullow Jamaica Ltd and in which United has a 20% interest, has been amended to extend the Initial Exploration Period during which...
News

Jamaica trade mission heading to CARICOM’s newest oil producer this month

OilNOW -
A delegation of around 16 Jamaican companies will visit the South American country of Guyana this month in pursuit of mutually beneficial business opportunities between the CARICOM neighbours. The visit by the Jamaican delegation to the region’s newest oil producing...
Exploration

Apache defies skeptics with major South American oil discovery

OilNOW -
(Bloomberg) Apache Corp. proved skeptics wrong with a major discovery off the northeast coast of South America, a hotly anticipated oil target that investors had feared would be another flop for the U.S. producer. The update on the Maka Central-1 well...
News

Aramco CEO says oil’s ‘central bank’ can handle any disruption

OilNOW -
(Bloomberg) Aramco’s quick recovery from the attacks on its Abqaiq oil facility shows resilience and flexibility that’s without parallel in the industry, proving to the world that Saudi Arabia is a reliable supplier, said Chief Executive Officer Amin Nasser. State-run...
News

CNOOC targeting 227 exploration wells in 2020

OilNOW -
CNOOC Limited plans to ramp up its exploration programme in 2020 as multiple projects come on stream, including the Liza Phase 1 Development in Guyana’s Stabroek Block where the company has a 25% stake. The Company’s targeted net production for...
News

Hull for 220,000 bpd Liza Unity FPSO arrives in Singapore

OilNOW -
After a journey of 2,300 nautical miles, the Fast4Ward® hull for the Liza Unity FPSO - ExxonMobil's second development offshore Guyana - has safely arrived at Keppel shipyard in Singapore, from China. This is SBM Offshore’s first generic hull, the...
News

ExxonMobil has opened up a new oil province in South America with untold potential

OilNOW -
Decades of failed attempts to find oil in the Guyana-Suriname basin saw companies bailing out and disappointment mounting, with many persons, ranging from laymen to experts, concluding that striking black gold in this frontier was unlikely and way too...
News

TT suffered 20,000 job losses in five years; O&G sector employment reduced by 40 percent

OilNOW -
More than 20,000 people in Trinidad and Tobago have lost their jobs since 2015, with more than 5,500 being sent home when the Petrotrin refinery closed down on November 30, 2018 in what has been a slew of job...
News

Brent oil prices could slip below $60 in 2020 even in face of Middle East tensions

OilNOW -
Despite heightened tensions in the Gulf region following the US drone attack in Baghdad that killed Iranian General Qassem Soleimani, the resulting surge in oil prices will not be sustained. In fact, analyst expect to see a downward risk...
News

Suriname discovery contains 300 million barrels of oil, over 1 trillion cubic feet of gas – WoodMac

OilNOW -
UK-based global energy consultancy group Wood Mackenzie says based on its estimate the discovery announced last week off the coast of Suriname could contain hundreds of millions of barrels of oil and over a trillion cubic feet of gas,...
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Guyana’s October crude oil exports went to 14 countries

Guyana exported a record 28 crude oil cargoes in October, its highest monthly total to date, as offshore production...

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