News

Guyana oil production will more than quadruple by 2023 with Liza Phase 1, 2 and Payara

Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2...

Guyana at cross-roads with big opportunity for security, stability – ASP

In less that 24 months Guyana, located on the northern shoulder of South America, will begin producing oil from its vast offshore reserves discovered by US oil major ExxonMobil. The opportunity that oil wealth presents is clear, says the...

Oil exploration company plugs US1.25M into water conservation efforts

Cataleya Energy Limited has funded a project in a remote village in the South American country of Guyana to tackle drought and create economic opportunities for residents in the Central Rupununi community. The US$1.25 million reservoir has the capacity to...

Brazil’s oil, gas reforms likely to continue under new President

Brazil’s oil and gas industry is expected to continue seeing reforms boosting both investments and production, as President-elect Jair Bolsonaro puts an end to 16 years of labor party rule. The so-called far-right candidate won Sunday’s second round of voting...

Foreign companies team up to explore for oil in Grenada

The Grenada government says two foreign companies have teamed up to continue the exploration of the island’s maritime space. In a October 29 report, the Antigua Observer quoted Grenada Energy Minister Gregory Bowen as saying that the Russian owned Global...

Suriname eyeing closer cooperation between ‘Three Guianas’ in O&G

Suriname hopes to sign a letter of intent with Guyana in December in which areas of cooperation for oil and gas would be clearly defined. Surinamese Minister of Natural Resources, Regilio Dodson says the the Memorandum of Understanding is likely to...

BP records strongest quarter in 5 years

BP Plc shares rose to the top of the FTSE 100 Tuesday after the U.K. oil major posted its strongest quarterly profit in five years following the "transformational" acquisition of BHP Biliton's BHP U.S. shale assets earlier this year. BP said underlying...

Nigeria heads to sea in search of future for oil producers

(Bloomberg) When it comes to the future of its oil industry, Nigeria is looking miles out to sea. By early next year, the largest offshore production vessel ever delivered to Nigeria will start pumping crude from a deposit deep beneath...

Noble Tom Madden arrives in Guyana

The Noble Tom Madden drillship arrived offshore Guyana on Friday. The 752 ft vessel was contracted by ExxonMobil Guyana to undertake exploration activities in the 6.6 million acres Stabtoek Block where a record 9 discoveries have already been made,...

Petrobras-led group drills first well in Peroba subsalt area

A consortium of Petrobras, BP Energy and CNPC has started drilling its first well in the offshore Brazil Peroba subsalt area, Petrobras said Friday. According to an S&P Global Platts report, the group acquired the area during Brazil's third subsalt...

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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...