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Hess expects free cash flow generation by 2022 – John Hess

OilNOW -
CEO of HESS Corporation John Hess said that despite the volatility in oil prices and the decline of financial markets, Hess has not changed its long-term strategy with a focus on executing it to deliver value to its shareholders...
News

Guyana ahead of USA and Russia in 2018 oil discoveries

OilNOW -
Guyana leads the way ahead of industry giants the United States of America and Russia in terms of barrels of oil equivalent (boe) petroleum discoveries for the year 2018. According to a report from Rystad Energy, “2018 stands already as...
News

Noble Tom Madden’s contract with Esso ends February 2019

OilNOW -
The contract for the drillship Noble Tom Madden, which has been drilling exploration wells in the Stabroek Block offshore Guyana for ExxonMobil affiliate Esso Exploration and Production Guyana Ltd., is scheduled to come to an end mid February 2019,...
News

Kanuku and Orinduik are next blocks to watch offshore Guyana

OilNOW -
Stabroek is the “gift that keeps giving” offshore Guyana, but industry analyst Wood Mackenzie reminds that “it’s not the only block in the country” as drill campaigns are set to get underway in two other blocks with potential for...
Exploration

CNOOC inks cooperation agreements with 9 international oil companies

OilNOW -
CNOOC Limited on December 18, 2018 announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL. As...
News

Pact between Guyana and ExxonMobil ‘more than commercial’ in nature

OilNOW -
The decision by US oil major ExxonMobil to conduct a new 3-D seismic survey on the western portion of the Stabroek Block offshore Guyana is a sign of confidence in the country’s internationally-recognised territorial zone. This, a former Minister...
News

PricewaterhouseCoopers submitted EOI for ExxonMobil cost recovery audit

OilNOW -
PricewaterhouseCoopers Advisory Services Limited submitted an Expression of Interest (EOI) to the Government of Guyana (GoG) for a cost recovery audit consultancy in relation to ExxonMobil’s exploration activities in the Stabroek Block offshore Guyana. “We have the right experience, the...
News

Upstream industry expected to thrive in 2019; Guyana among biggest sanctions

OilNOW -
As 2018 draws to a close the stage is already set for a fascinating 2019 in the upstream industry with the biggest project sanctions in deepwater oil expected to take place in Guyana and Brazil. In the recently published 2019...
News

New exploration on western portion of Stabroek Block significant – ASP

OilNOW -
US oil major ExxonMobil’s move to undertake a new 3-D seismic survey covering 12,000 square kilometers on the western portion of the Stabroek Block could be viewed as Guyana and the oil company “building a case for showing their...
News

“Staggering” discoveries pushing record production – Hess

OilNOW -
Hess Corporation’s Senior Vice President – Exploration, Barbara Lowery-Yilmaz, says greater than five billion barrels of equivalent resource in four years is “pretty tremendous” referring to the record oil discoveries made off the coast of Guyana. Further, she said that...
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