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...
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...
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...
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...
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...
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...
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...
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...
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...
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...