Production

Exploration

US Gulf of Mexico to hit new production record this year

OilNOW -
By Ed Crooks - Vice-Chair, Americas, Wood Mackenzie Platforms coming on stream will take US deepwater output to a record high in 2022. But new entrants have been wary of moving into the region. When British cartographers mapped what was to...
Exploration

Analysis points to massive Guyana basin oil resources, huge production estimates

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An analysis written by The Value Portfolio, published on crowd-sourced content service provider Seeking Alpha says Guyana is a game-changer and is defining a new era for ExxonMobil with current discovered assets touching almost 11 billion barrels stretched across...
News

FPSO contracts surge; Guyana contributing to global total this year – Rystad Energy

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The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease...
News

Liza Unity start-up, gas-to-energy FID among major projects for Exxon this year – Routledge

OilNOW -
Guyana’s oil production will almost triple this year as the state-of-the-art Liza Unity floating production storage and offloading (FPSO) vessel comes on stream, adding to the output from its sister unit, the Liza Destiny. ExxonMobil is also looking to make...
Exploration

“The numbers are incredible” – Exxon says of Guyana mega discoveries

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With an average volume of 300 million barrels of oil equivalent per discovery and a record 80 percent success rate, the pioneering oil fields offshore Guyana, particularly at the prolific Stabroek Block, continue to deliver big pay with low...
Exploration

Experts say more drilling needed as Guyana now on course to help fill major supply gap

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Organizations such as the Paris-based International Energy Agency (IEA) have recommended that there be no new petroleum exploration projects if the world is to avoid more catastrophic effects of climate change. But another report by two recognized organizations is...
News

BHP encounters hydrocarbons at Calypso appraisal well in Trinidad

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BHP Group Ltd. said on Tuesday that it encountered hydrocarbons at the Calypso appraisal well Bongos-3 in Trinidad and Tobago and that it plans to perform other well operations as part of the drilling programme. “In Petroleum, the Calypso appraisal...
Exploration

Guyana government applauds ‘25 viable discoveries’, says local content remains key

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The Guyana government said on Thursday the latest oil discovery announced by ExxonMobil at the Cataback-1 well further enhances the country’s offshore potential, and that it is working to ensure Guyanese enjoy maximum benefits from the rapidly growing hydrocarbon...
Exploration

High quality crude, big investments propelling Guyana as key global player

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The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
News

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

OilNOW -
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...
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Guyana and global oil exports marked safe as US market tariffs hit other industries

The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald Trump. Trump imposed...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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