Production

Exploration

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

OilNOW -
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...
Exploration

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

OilNOW -
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...
News

Guyana regulators internationally trained to measure crude lifts

OilNOW -
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...
News

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

OilNOW -
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...
Exploration

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

OilNOW -
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...
News

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

OilNOW -
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...
Exploration

IEA landmark report calls for halt to global oil and gas developments, but cautions that each country would need to design its own strategy

OilNOW -
The International Energy Agency (IEA) said Tuesday that under an energy scenario needed to put the world on a path to net-zero emissions by 2050, no new oil and gas developments should be sanctioned beyond those already approved for...
News

Total starts oil production at Zinia Phase 2 in Angola

OilNOW -
Total, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, announce on Thursday the start of production from the Zinia Phase 2 short-cycle project, connected to existing Pazflor’s FPSO (Floating Production, Storage...
News

Venezuela oil production on course to be surpassed by South America’s ‘new kid on the block’

OilNOW -
Even with its vast oil reserves of over 300 billion barrels, Venezuela’s output is now on course to be surpassed by new producer Guyana where oil fields are moving to development at a robust pace as the government looks...
News

Guyana President confirms major ramp up coming in ExxonMobil’s oil production operations

OilNOW -
President of Guyana, Dr. Irfaan Ali on Wednesday highlighted plans by ExxonMobil to significantly ramp up oil production activities offshore the South American country which will see production hitting the 1 million barrels per day mark by 2027. During a...
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Latest News

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Guyana’s annual take from oil to balloon to US$9.2 billion in 2030 – Rystad Energy

Guyana is projected to receive US$9.2 billion in revenue from oil sales and royalties in 2030, according to a...

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