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Future oil growth likely centered in Guyana-Suriname, GlobalData finds

OilNOW -
The oil and gas industry has long underpinned the global economy, with demand growing steadily except during the COVID-19 pandemic. New discoveries and massive oilfield reserves sustain global production, essential for meeting this demand. In May 2024, GlobalData conducted...
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Guyana’s May oil output hits new monthly record 

Kemol King -
Oil production at ExxonMobil’s Guyana projects hit a combined 19.6 million barrels in May, the highest monthly volume yet, government data shows. In May, the Liza 1 project averaged 154,000 barrels per day (b/d), totaling 4.78 million barrels. This project...
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SBM Offshore’s Fast4Ward hull reserved by TotalEnergies for Suriname’s first oil development

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TotalEnergies has reserved SBM Offshore's Fast4Ward® hull for its first development offshore Suriname. SBM Offshore made the announcement on Thursday. "SBM Offshore is pleased to announce that, in partnership with Technip Energies, and in line with the Front End Engineering and...
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Trinidad hopeful existing gas infrastructure gives it edge over rising stars Guyana and Suriname

Kemol King -
Trinidad and Tobago's Minister of Energy and Energy Industries, Stuart Young, said the country is advantaged in terms of its ability to attract investment in gas exploration and development, due to its established gas infrastructure. During an early May...
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Guyana’s April oil output is second highest on record

Kemol King -
Oil production offshore Guyana averaged 625,000 barrels per day (b/d) in April, with a monthly total of 18.76 million barrels, according to data published by the government. In both respects, April saw the second highest monthly on record after...
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Hess says exploration planned this year for Suriname blocks at Guyana border

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Hess Corporation said exploration activities are planned this year for two Suriname blocks in which it holds stakes - Block 42 and Block 59. The note is part of the company’s annual report filed with the U.S. Securities and Exchange...
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Guyana oil production jumps 38% in first quarter

Kemol King -
Guyana’s Stabroek Block jumped 38% in overall oil production in the first quarter of 2024, compared to the prior quarter.  In the fourth quarter of 2023, the three ExxonMobil-operated projects (Liza 1, 2 and Payara) collectively delivered 40.3 million barrels...
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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...
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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...
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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...
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SLB expands presence in Suriname with new office

SLB has strengthened its presence in Suriname with the opening of a new office in Paramaribo, reinforcing its commitment...

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