Saturday, September 18, 2021

Production

Equinor begins production at one of the most profitable projects in its history

On Friday August 27, production started from the Troll phase 3 project in the North Sea. The project has a break-even price below 10 dollars and CO2 emissions of less than 0.1 kg per barrel oil equivalent. The new wells...

Platts panel talk up Guyana deepwater oil prospects

Updated August 21, 2021 “So, it's like the western hemisphere's Abu Dhabi in a sense” Guyana – the biggest oil story in the last decade – remains the centre of attention in any discussion on deepwater prospects in the western hemisphere....

Suriname production expected to hit 650,000 bpd by 2030

Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade,...

Guyana-Suriname Basin will be important to global energy transition – Hess VP Exploration

In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater ‘advantaged barrels’ in locations such as the Guyana-Suriname Basin will therefore continue to play a...

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to...

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the discovery of multi-billion-barrel hydrocarbon resources, the economic prospects of these upcoming potential giants are among...

Guyana regulators internationally trained to measure crude lifts

Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to...

Asset sales, maintenance in T&T and elsewhere will see BP output dropping this quarter

In a group results statement for Q1 2021, BP said second quarter production will be even lower than the first quarter in both its conventional operations and newly created 'gas and low carbon' unit. This is due to a...

Basins with high-quality, low-cost discoveries will reign supreme

Analysts around the world have been crunching numbers and closely examining scenarios that provide insight into the future of oil and gas in a world that is moving towards renewable energy sources. The predictions vary, often considerably, for peak...

Suriname’s first 3 offshore discoveries expected to produce around 1.4 billion barrels of oil – Rudolf Elias

The Outgoing Managing Director of Suriname’s state oil company, Staatsolie Maatschappij Suriname N.V., says the country’s first 3 offshore discoveries at Block 58 are expected to produce around 1.4 billion barrels of oil equivalent resources over time. Rudolf Elias, in...

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Guyana’s oil and gas development will offer another strong rebuke against Venezuelan aggression

By Wazim Mowla – OilNOW The development of Guyana’s oil and gas sector is its best chance to maintain its...