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Stabroek Block delivered 8 successful wells in 2024 – Hess

OilNOW -
ExxonMobil drilled eight successful exploration and appraisal wells in the Stabroek Block last year, according to Hess’s latest annual report.  All eight wells “encountered hydrocarbons”, Hess said. There was “one unsuccessful exploration well for which the well costs were expensed.”  This...
News

It would be ‘a very bad day’ if Venezuela attacks Guyana or Exxon’s Stabroek Block operations – U.S. Secretary of State says

Shikema Dey -
Marco Rubio, United States Secretary of State, has taken an assertive stance against Venezuelan President Nicolás Maduro's attempted bullyism of the South American nation. He said a conflict with Guyana or an attack on Exxon’s Stabroek Block would lead...
News

With more associated gas found in Stabroek Block, Exxon can now supply Guyana with 120 million cubic feet of gas – new Deepwater VP

Shikema Dey -
ExxonMobil said it has identified more associated gas resources in Guyana’s Stabroek Block to more than double its intended supply for the Gas-to-Energy project. J Hunter Farris, Exxon’s Senior Vice President, Deep Water made the announcement during a presentation at...
News

Exxon to target Hamlet-1 well in search of oil play in southeastern portion of Stabroek Block

Shikema Dey -
ExxonMobil is set to drill the Hamlet-1 exploration well this year as it pushes deeper into the southeastern part of the prolific Stabroek Block in search of a new oil play.  That portion - near the Suriname border - has...
News

Stabroek Block group could recover another US$13 billion in expenses this year

Kemol King -
With US$17.6 billion in crude exports projected for 2025, the Stabroek Block group could recover up to US$13.2 billion in expenses in 2025. The group—ExxonMobil, Hess, and CNOOC—has committed more than US$54 billion to explore and develop the Stabroek Block...
News

Guyana’s Stabroek Block drives global subsea tree demand – Westwood 

OilNOW -
According to Westwood's Global Subsea Tree Tracker, the global subsea tree market closed 2024 with 255 units awarded, an 11% drop quarter-on-quarter and a 12% year-on-year decline. In 2025, global demand is forecast to...
News

Westwood’s post-2025 energy investments spotlight Guyana’s Stabroek Block potential

OilNOW -
Beyond 2025, Guyana's Stabroek Block, operated by ExxonMobil, is set to remain a focal point for energy investments, according to a new report by Westwood Global Energy Insights. Guyana joins other major opportunities, including Brazil’s pre-salt basin, deepwater Namibia, and...
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Guyana reaches 52 oil discoveries, Stabroek Block dominates with 46 by ExxonMobil

OilNOW -
Guyana has recorded 52 oil discoveries across its offshore blocks, with ExxonMobil leading the charge in the Stabroek Block, where 46 discoveries have been made. This was revealed by Guyana’s Finance Minister, Dr. Ashni Singh, during his 2025 budget...
News

Regulators, ExxonMobil near completion of Stabroek Block relinquishment process

OilNOW -
Minister of Natural Resources Vickram Bharrat announced that the process for ExxonMobil Guyana to relinquish 20% of the Stabroek Block is in its final stages.  The Petroleum Sharing Agreement (PSA) governing the Stabroek Block requires Exxon to relinquish 20% of...
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Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

OilNOW -
Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels.  “With the six ships that we have already sanctioned, we're going to be developing over five billion barrels of...
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NewsShikema Dey -

As Errea Wittu FPSO takes shape, MODEC deepens roots in Guyana with permanent office 

Merely days after the Errea Wittu FPSO arrived in Singapore for the next stage of construction, builder MODEC marked...

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