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Hammerhead opened pathway to potential 10-billion-barrel province

OilNOW -
Hammerhead, the 9th of 13 discoveries made so far off the oil-rich coast of Guyana, opened a new play in the Stabroek block that potentially unlocks a pathway for the emergence of a multi-billion-barrel province. So says Westwood Global...
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New pipeline needed to meet surge in demand for Permian crude

OilNOW -
Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 barrels per day (b/d) by the end of next decade, according to new research from global natural resources consultancy Wood...
Exploration

2016 Stabroek contract revisions followed dry hole at Skipjack

OilNOW -
When US oil major ExxonMobil first started exploration activities at the Liza field the odds of finding oil at the high-risk Guyana basin was less than 20 percent. The giant discovery in 2015 of 800 million to 1.4 billion...
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Major trade & investment show launched in Guyana

OilNOW -
The second Guyana Trade and Investment Exhibition (GuyTIE) was officially launched on Wednesday, July 3, at the Arthur Chung Conference Centre on the outskirts of the country's capital, Georgetown, under the theme, “Made Locally, Trading Globally.” GuyTIE is intended to...
News

Risk and reward: less than 9 months to first oil

OilNOW -
With roughly less than nine months to go until first oil, there is great anticipation of the positive impact that oil revenues would potentially have on Guyana’s economic development. The 13 discoveries made by ExxonMobil thus far do not only...
News

Malaria surges back in crisis-hit Venezuela

OilNOW -
El Tucuco (Venezuela) (AFP) - The sweltering heat of the Venezuelan forest makes no difference to Jose Gregorio, who trembles with a cold chill. "I have pain everywhere, fever," he stammers. Gregorio has the classic symptoms of malaria, a disease...
News

Exxon to begin drilling development wells for Liza Phase 2 early next year

OilNOW -
ExxonMobil Guyana will begin drilling development wells for the 220,000 barrels per day Liza Phase 2 Development project early 2020 and is already looking to bring in a fourth drill ship by the end of this year, to facilitate...
News

Venezuela: from a bright future to an economic disaster in 20 years

OilNOW -
Venezuela enjoys the largest proven oil reserves in the world. According to OPEC’s 2018 Annual Statistical Bulletin, some of Venezuela’s natural resources include gas, iron, gold, bauxite, and diamonds. Its economy, however, is spiraling downward with no end in...
News

Halliburton and other drillers are fighting for new life in a world of cheap oil

OilNOW -
For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival. Five years after crude began its plunge to less than $30 a barrel from more than $100, the companies that drill and frack...
News

Guyana to raise gov’t royalties for future oil licenses

OilNOW -
(Reuters) - Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country’s Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britain’s Tullow Oil...
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Payara still leads ExxonMobil’s record-breaking ramp-up offshore Guyana

ExxonMobil’s Payara project continues to hold the record for the fastest production ramp-up among all oil developments in Guyana’s...

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