News

Indonesia's upstream regulator SKK Migas has announced a significant gas discovery by a Repsol-led consortium at Sakakemang PSC onshore Central Sumatra. Wood Mackenzie's Research Director Andrew Harwood provides the following commentary: "Repsol's Kali Berau Dalam-2 well re-entered after well control problems...

The Liza Unity Floating Production Storage and Offloading vessel, the first of its kind produced by SBM Offshore using its Fast4WardTM programme, is expected to closely follow the Liza Destiny which will begin producing oil for Guyana by 2020. The Unity...

From 2019 to 2021 Rystad Energy expects 33 FPSOs to be sanctioned as oil and gas activity picks up in the offshore sector.  15 of the FPSOs will require a production capacity above 80,000 barrels/day. This high capacity demand comes...

Venezuela’s slide from top of the heap to a virtual bit player in the oil market is a slow-motion car crash. Production sank progressively from 2.6 million barrels per day (b/d) a decade ago, when it was third in...

On January 23 this year, Guyana’s President, David Granger, signed the Natural Resources Fund (renamed from Sovereign Wealth Fund) into law. This was announced by Minister of State, Joseph Harmon, on Friday at a news conference at the Ministry...

(Amsterdam News) U.S. supermajor ExxonMobil announced two major oil finds offshore Guyana in the past week, and the discovery has raised the hopes for similar massive oil discoveries in two of its neighbors that incidentally already produce oil and...

The two most recent discoveries on Guyana’s prolific Stabroek Block is particularly significant since one represents the highest net pay count found to date and the other the first gas discovery announced by the ExxonMobil-led consortium of Hess and...

Guyana will be the focus for UK-based Tullow Oil’s exploration drilling programme in 2019 as the company gears up to drill the Jethro prospect in the second quarter of the year, as the first of two planned wells on...

Thirteen companies have submitted Expressions of Interest (EOI) and five have been shortlisted with evaluations set to commence soon, for the award of a contract for the execution of ExxonMobil Guyana’s cost-recovery audit. Director of the Department of Energy in...

Ahead of its April 25, 2019 reporting deadline, the Guyana Extractive Industries Transparency Initiative (GYEITI) on Tuesday met with stakeholders at Cara Lodge, Quamina Street, Georgetown. After becoming a candidate of the Extractive Industries Transparency Initiative (EITI) in October 2017,...