Thursday, October 6, 2022

Production

Noble will begin Liza campaign in 2018 – ExxonMobil Guyana

ExxonMobil Guyana has confirmed that Noble Corporation has been contracted by the US super-major for an offshore campaign in the Stabroek Block, located 120 miles offshore the South American country. The 2013-built Noble Bob Douglas drillship will commence operations at...

Liza Phase 1 Development Fact Sheet

The Government of Guyana announced on June 15, 2017 that it had approved the ExxonMobil Liza Phase 1 development plan and had issued a Production License to the company. ExxonMobil outlines the Liza Phase 1 project development description as follows: ...

Gas starts flowing from BP’s new fields offshore Trinidad and Australia

(Reuters) - BP has started producing gas from two new projects offshore Trinidad and Tobago and Australia; the company said on Monday, further boosting output that is helping the company to turn a corner after a bruising market downturn. Gas...

Liza Phase 2 targeted for 2023; proposed natural gas project being discussed

The ExxonMobil Liza Phase 2 development project in Guyana could start as early as 2023, following the commencement of Phase 1 scheduled for mid-2020 which will bring first oil for the South American country. Discussions are also ongoing for a...

OPEC forecast higher demand for its crude in 2018 due to rising global consumption.

(Reuters) - OPEC forecast higher demand for its crude in 2018 on Thursday due to rising global consumption, and pointed to signs of a stronger oil market that suggest an OPEC-led production cut is getting rid of price-sapping excess...

SBM adopts new approach to lower deepwater FPSO project costs

(Offshore) MONACO – SBM Offshore is progressing its Fast4Ward program for FPSOs, designed to make deepwater project returns more attractive at current oil prices. Oilfield developments in deeper water, with harsher conditions, require heavier installations on deck, despite space and...

$620B in oil & gas projects may be deferred through 2020 – Deloitte

The impact of the extended oil price downturn will likely have long-term effects on the industry in a number of areas including capital allocation and people, according to multinational professional services firm, Deloitte Touche Tohmatsu Limited. In describing 2017 as...

Transformation to oil producer in less than 5 yrs “unprecedented in the world” – Canadian High Commissioner

The challenges facing Guyana as it prepares for oil production in 2020 will be bigger, since the country’s rapid move to first oil gives it less than 5 years from the initial discovery, to fully prepare. Outgoing Canadian High Commissioner...

Tulip Oil gets gas production license for Dutch offshore field

(Reuters) - Dutch oil and gas exploration company Tulip Oil has been awarded a production license by the Dutch government for a gas field off the coast of the Netherlands, it said on Monday. Tulip Oil will now proceed with a...

Guyana can experience as much as 2000% increase in GDP over next 20 yrs – GCCI President

The economic explosion Guyana is expected to experience with coming oil production can see the country’s Gross Domestic Product (GDP) skyrocketing by as much as 2000% over the next two decades, according to President of the Georgetown Chamber of...

Latest News

‘TT companies will move to Suriname if Ramps doesn’t get local content certificate’ – Trini business strategist

If Guyana fails to grant Ramps Logistics a Local Content Certificate to operate within its oil sector, Trinidad and...