Wednesday, January 19, 2022

Production

Total starts oil production at Zinia Phase 2 in Angola

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...

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

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...

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

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...

Bahamas Petroleum looking to ramp up production in T&T, Suriname

Bahamas Petroleum Company plc said Friday it will be embarking on a comprehensive program of activities that will see an increase in production and cashflow from operations in Trinidad and Tobago and Suriname. In a Notice of Extraordinary General Meeting and Circular,...

Reliance and bp start production at deepwater gas field in India

Reliance Industries Limited (RIL) and bp on Monday announced the start of production from the Satellite Cluster gas field in block KG D6 off the east coast of India. RIL and bp have been developing three deep-water gas developments in...

Guyana will become just the 11th nation in history to reach million barrel a day milestone – WoodMac

Updated April 25, 2021 UK-based global energy consulting group Wood Mackenzie says Guyana is in a unique position as the world’s newest major oil producer. Other oil- and gas-dependent producers are contemplating the threat posed by the energy transition to...

Guyana total oil revenues set to surpass US$340 million

When the proceeds received by Guyana for the first quarter of 2021 from oil produced and sold at the offshore Liza Phase 1 Development are added to the amount currently in the Natural Resources Fund, this is expected to...

CNOOC’s first-quarter revenue surges 21%

China’s national offshore oil and gas company CNOOC Ltd. said on Thursday its oil and gas sales revenue in the first quarter of this year surged by 21%. The Company achieved a total net production of 137.7 million barrels...

Bulk of current drillship demand in ‘golden triangle’ where Guyana offshore remains busy

The bulk of current drillship demand is in the so-called golden triangle area which comprises the Gulf of Mexico (US and Mexico), South America (Brazil, Guyana & Suriname), and Africa (west, south, and east coasts). These regions account for...

OPEC+ throws caution to the wind with agreement to add over 2 million b/d to the market by July

(S&P Global Platts) After months of preaching caution and saying the time was not right to raise oil production, OPEC and its partners abruptly agreed on April 1 to loosen their quotas and add more than 2 million b/d...

Latest News

‘If not now, then when’: Guyana gov’t targeting 50 million barrels by 2026

The number of major oil projects to be sanctioned globally in 2022 is anticipated to be in the mid-30s,...