Tuesday, December 6, 2022

Production

Stabroek Block production averaged 372,000 bpd in first half of August

Recently updated information from Guyana’s Petroleum Management Programme shows Stabroek Block oil production averaging 372,000 barrels per day (bpd) for the period August 1-15, 2022. Production in this period reached its lowest on August 4 with just over 245,000 bpd,...

Guyana’s oil production reached all-time high of 386,000 bpd at end of July

Oil production offshore Guyana exceeded 386,000 barrels a day (bpd) in July, marking the highest production recorded in a day since first oil. This data is publicly available via the Petroleum Management Program, an online portal available since early 2021 that makes...

Oil exports to surpass US$3B; to represent 59.7% of Guyana’s GDP this year – IDB

The Inter-American Development Bank (IDB) has commented in one of its latest publications that Guyana’s oil boom will drive hydrocarbon exports beyond US$3 billion this year and also account for 59.7% of Gross Domestic Product (GDP). It further noted in...

Production data for Liza, Unity Gold Crude show output peaked at 365,000 bpd in June

Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...

Regulators are present on both FPSOs doing real-time monitoring – Bharrat

The capabilities of key agencies tasked with monitoring the offshore oil and gas operations in Guyana have been strengthened over the last two years and work is ongoing to further build capacity as production ramps up in the new...

Exxon to spend more than US$100 billion through 2027 to meet world’s energy needs

ExxonMobil expects to invest over US$20 billion annually to help meet the world’s growing energy needs through 2027. That's more than US$100 billion in the next five years. This will amount somewhere between US$21 billion and US$24 billion this...

100M-barrel Jethro well could be Guyana’s first oil production project outside Stabroek Block

The fallout from Russia's invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners - Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy - plan to revisit the commercialisation potential of the Jethro...

Exxon records $17.9 billion Q2 earnings as discoveries mount in Guyana

ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...

Exxon’s third Guyana project 80% complete, can produce higher volumes

The Payara project, ExxonMobil’s third development in Guyana’s offshore Stabroek Block is 80% complete, according to President and Chief Operating Officer of Hess Corporation, Greg Hill. Topside fabrication/installation is currently being undertaken aboard the Prosperity floating production, storage and offloading...

TotalEnergies starts production at Ikike field off Nigeria coast

TotalEnergies said Monday it started production at the Ikike field, 20 kilometers (km) off the coast of Nigeria. The Ikiken platform meets a depth of about 20 meters and is tied back to the existing Amenam offshore facilities through...

Latest News

Guyana’s oil fund almost at US$1.4 billion at November’s end

Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end...