Production

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Feb. Data: Production steady at Exxon’s Stabroek Block projects

Kemol King -
Data from Guyana’s Ministry of Natural Resources indicates that in the month of February, ExxonMobil’s Liza 1 and 2 developments demonstrated the steadiest output at their respective peak ranges since production began. Payara was also stable with just a...
News

Government, opposition refute claims Guyana not getting full royalties

OilNOW -
Representatives of both the Guyana government and main opposition party on Thursday refuted claims that Stabroek Block co-venturers ExxonMobil, Hess and CNOOC are shortchanging the country in quarterly royalty payments.  Economic Advisor in the opposition party, Elson Low, said that...
News

Stabroek Block produced over 18 million barrels in January 

Kemol King -
In January, three projects at the ExxonMobil-operated Stabroek Block offshore Guyana produced 18.7 million barrels of oil.  The projects collectively averaged 602,000 barrels per day (b/d). However, based on their individual peaks, the projects demonstrate the ability to produce collectively...
News

Guyana oil production could reach almost 1.5 million bpd by 2027

Kemol King -
Although ExxonMobil has said it is targeting 1.2 million barrels of oil per day (bpd) by 2027 at the Stabroek Block offshore Guyana, this output could actually edge closer to 1.5 million bpd based on current trends, and projections...
News

Guyana oil production peaked at 589,000 b/d in December 2023 

Kemol King -
The Stabroek block in Guyana produced 589,000 barrels on December 26, 2023 from three projects - Liza 1 (155,000 barrels), Liza 2 (253,000 barrels), and Payara (181,000 barrels).  This marks the highest total production from the Stabroek block, thanks to...
News

SBM Offshore-built FPSO goes into production at Brazil’s Mero field

OilNOW -
State-owned Brazilian multinational corporation Petrobras announced on Sunday that oil production got underway at the Sepetiba platform, in the Mero field, Libra block, in the pre-salt of the Santos Basin. The company said this is Mero's third production system, with...
News

Guyana oil production hits 500,000 bpd as Payara ramp-up outpaces previous projects  

Kemol King -
Oil production in Guyana hit the half a million barrels per day milestone at the close of November with the addition of the Prosperity floating production, storage and offloading (FPSO) vessel at the ExxonMobil-operated Stabroek Block. This is according to...
Discoveries

Guyana is now a major competitive, policy-friendly player in global deepwater arena

OilNOW -
A massive infrastructure transformation and construction boom in South America’s lone English-speaking country are the most visible signs of the nation’s newfound wealth which is being delivered by huge oil fields under development offshore. And the latest World Economic...
Exploration

Exxon focusing on developing oil resources in Guyana; no financial backing in play for border controversy  

OilNOW -
ExxonMobil remains focused on developing the vast hydrocarbon resources offshore Guyana in keeping with the government's objective of moving these projects forward in a timely manner. The U.S. multinational says it is not playing a role in providing financial...
News

Liza Destiny production rebounds in October

Kemol King -
Production at the Liza 1 project rebounded in October, after which, the Liza Destiny floating production, storage and offloading (FPSO) vessel demonstrated levels in excess of 150,000 barrels per day (bpd). The project registered an average output of 140,780 bpd...
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Second phase of Berbice training facility progressing with extended timeline

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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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