Production

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Liquid content in Guyana’s gas fields could prevent straightforward deployment of floating LNG facility

OilNOW -
With oil production in Guyana set to hit 600,000 barrels per day (bpd) next year and cross the one million bpd mark by 2027, monetizing the large volumes of associated gas discovered to date at the ExxonMobil-operated Stabroek Block...
Exploration

Guyana basin should achieve payback in under 10 years at an oil price of US$60-80 – WoodMac

OilNOW -
Analysts have said the significant sums Guyana is set to receive in oil revenue can make the country one of the richest in the world, per capita. The companies producing oil there are also set to receive massive returns...
News

Guyana crude blends capture bigger chunk of European market this year

OilNOW -
Driven by increased production by an ExxonMobil-led consortium operating off of its coast, and strong demand for light sweet crude grades, the South American country of Guyana has gained a larger share of Europe's oil market this year. Guyana's crude...
News

Guyana surpasses 100 million barrels of oil production in first nine months of 2023

Kemol King -
For the period January to September 2023, ExxonMobil produced over 102 million barrels of crude offshore Guyana. Two floating production, storage and offloading (FPSO) vessels operating in the Liza field hit the milestone together - Liza Destiny produced nearly...
News

Oil production begins at Exxon’s 3rd Guyana project pushing output to 620,000 bpd

OilNOW -
ExxonMobil announced on Tuesday that it has started producing oil at the massive Payara Development Project offshore Guyana, bringing total production capacity to approximately 620,000 barrels per day (bpd). The Prosperity floating, production, storage and offloading (FPSO) vessel is expected...
News

Guyana is key contributor to 100-million-barrel liquids production forecast

OilNOW -
Specialist market research and consultancy firm Westwood Global Energy Group says liquids production (crude, condensate and NGLs) is forecast at 100mmbpd by 2030, up 8% on 2022. This will be driven by increased crude production from deepwater areas, such...
News

Robust measures in place for offloading crude at Payara as first oil nears

OilNOW -
Guyana’s Environmental Protection Agency (EPA) has put in place a series of robust measures to guide the Prosperity floating production storage and offloading (FPSO) vessel’s offloading operations for ExxonMobil’s Payara development project. The project, set to come online soon, is...
News

Guyana produced over 90 million barrels of oil in first eight months of 2023

Kemol King -
ExxonMobil’s Stabroek Block projects have produced approximately 91 million barrels of crude, according to data from the Ministry of Natural Resources’ Petroleum Management Programme. Average output for the year is approximately 377,850 barrels per day (bpd). Liza 2, in...
News

Touchstone delivers first gas from Cascadura project in Trinidad

OilNOW -
Calgary-based Touchstone Exploration Inc. has officially announced the commencement of production at its Cascadura natural gas and liquids facility in Trinidad. This announcement heralds a significant transition for Touchstone, pivoting the company's operations to be more natural gas-centric. The Cascadura...
News

Stabroek Block supplied 12 million crude barrels to market in July

Kemol King -
In July 2023, the Liza projects at Guyana's Stabroek Block continued to demonstrate reliable production. An analysis of data supplied by the Ministry of Natural Resources shows that the projects collectively averaged 387,620 barrels per day (bpd) in July,...
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Second phase of Berbice training facility progressing with extended timeline

The construction of the oil and gas training facilities at the Guyana Technical Training College (GTTCI) in Port Mourant,...

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