Production

German engineering company MAN Energy Solutions says there is no linkage between technical issues encountered with the flash gas compressor on the Liza Destiny FPSO, and production optimization activities that were ongoing at the time the challenges were encountered. ExxonMobil...

ExxonMobil Guyana said on Tuesday technical experts in Germany continue to assess operating data and inspection findings in order to define the required scope of repairs to the compressor and silencer. This process also includes consideration of technical recommendations...

(Reuters) - A potential strike at Norway’s Mongstad oil storage and export terminal could close down major North Sea oilfields next week and also hit gas exports to Europe, operator Equinor said on Friday. The Safe labour union, which plans...

Subsea boosting, which is the most mature technology within the subsea processing toolbox, can add millions of barrels to recoverable reserves and Guyana has been identified as one of the top 10 countries where such an intervention can be adopted. Norway-based...

Due to the significant recoverable resources discovered at the Yellowtail field, IHS Markit estimates that total cash flow will amount to almost US$10B when ExxonMobil and co-venturers Hess and CNOCC move to develop the area. IHS, a global leader in information,...

The FPSO (Floating Production Storage and Offloading) system is used extensively by oil companies for the purpose of storing oil from the oil rigs in the middle of the ocean and in the high seas. It is one of...

Since 2015, ExxonMobil has made 18 discoveries at the Stabroek block offshore Guyana with just two non-commercial encounters – Skipjack-1 and Sorubim-1 – which demonstrate a 90% exploration success rate in the prolific Guyana-Suriname basin. The 18 discoveries so far...

Following a review of its future business plans, ExxonMobil announced on Monday that it intends to prioritize near-term capital spending on advantaged assets with the highest potential future value. It said that these will include developments in Guyana and...

Discussions have been ongoing about the nature of the Production Sharing Agreement (PSA) Guyana has entered with ExxonMobil for the Stabroek block since oil was discovered back in 2015 and production got underway in December 2019. But what exactly are PSAs?...

The International Energy Agency trimmed its oil demand estimate for 2020 on the resurgence of the coronavirus in the West and said it does not expect vaccines "to ride to the rescue" of the market for "some time", S&P...