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Revised model PSA targeting future licensing rounds – Energy Department confirms

OilNOW -
Guyana’s President, David Granger has made it clear that his APNU+AFC coalition administration respects the sanctity of contracts. This is a position the Department of Energy (DE) embraces, with its Director confirming to OilNOW on Friday that revisions to...
News

Use oil revenue to ‘make agriculture great again’ – Finance Minister

OilNOW -
In anticipation of Guyana’s projected oil revenue, the nation’s finance minister, Winston Jordan says that a portion of the money should go to the improvement of other productive sectors. Speaking to OilNOW, at his Ministry’s office on Main Street, Georgetown,...
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Liza Unity one of 3 multipurpose hulls under construction on SBM’s Fast4Ward®

OilNOW -
The 220,000 barrels per day Liza Unity Floating Production Storage and Offloading vessel is one of three oil production platforms currently being built under SBM Offshore’s Fast4Ward® programme. The Dutch floater specialist said on Thursday the Liza Unity hull, the...
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Future Venezuela events may have significant impact – Chevron

OilNOW -
(Bloomberg) - The last major U.S. oil producer in Venezuela is warning that developments in the crisis-torn South American nation could hurt its earnings. “Future events related to the company’s activities in Venezuela may result in significant impacts on the...
Exploration

Substantial oil resources to be unlocked in Norway through increased recovery projects

OilNOW -
Increased recovery projects in Norway will unlock substantial oil resources, driven predominantly by the majority state-owned Equinor, says GlobalData, a leading data and analytics company. Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, comments: “Field expansion projects in Norway...
News

Occidental completes US$55B acquisition of Anadarko

OilNOW -
Occidental Petroleum Corporation (NYSE: OXY) on Thursday announced the successful completion of its acquisition of Anadarko Petroleum Corporation (NYSE: APC) in a transaction valued at $55 billion, including the assumption of Anadarko’s debt. "With Anadarko’s world-class asset portfolio now officially...
News

Guyana’s total estimated income from Stabroek block jumps to US$117.5 billion – Rystad Energy

OilNOW -
Guyana’s total estimated income from the 13 discoveries made so far by ExxonMobil at the Stabroek Block is now projected at 117.5 billion US dollars which is equivalent to more than 24 trillion Guyana dollars. This massive windfall for...
News

SBM Offshore Q2 earnings increase 19% as Liza FPSO projects progress

OilNOW -
Dutch floater specialist SBM Offshore’s directional revenue as of June 30, 2019 totaled US$965 million, representing an increase of US$157 million or 19% compared with the same period last year. This increase was driven by a higher activity level...
News

Data consortiums signal the future of oil and gas

OilNOW -
The energy industry has a data problem: Every major exploration and production company collects petabytes of data, but their analysis is limited to their own petabytes. Companies need access to industry-wide data to gain accurate insight into the sector,...
News

No award of oil blocks before elections

OilNOW -
There can be no award of any oil blocks before the next General Election is held and a government is appointed. This is according to Guyana’s Minister of Legal Affairs and Attorney General, Basil Williams. Williams iterated this on Monday,...
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Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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