Production

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220,000 bpd Prosperity FPSO arrives in Guyana waters

OilNOW -
Guyana’s third oil production vessel - Prosperity, has arrived in the country's waters.  Operator ExxonMobil in a Tuesday morning release said the Prosperity will kickstart production from its Payara field in the Stabroek Block later this year.  "The arrival of the...
Exploration

Exploration remains high-risk; Hess, CNOOC hit jackpot with Guyana farm-in – Westwood

OilNOW -
Energy market research and intelligence company Westwood Energy says exploration for hydrocarbons remains a high-risk business with only one in every three high impact exploration wells drilled between 2017 and the end 2022 resulting in a potential commercial discovery. “The...
News

Stabroek Block daily production jumps 5% in February

Kemol King -
The Stabroek Block’s Liza projects continue to demonstrate consistently high oil production levels. In February, the daily production rate jumped 5% to 390,000 barrels per day (b/d) from 372,000 b/d in January.  The February production rate represents the highest of...
News

bp progress concept for Greater Tortue Ahmeyim Phase 2

OilNOW -
bp and partners today confirmed the development concept for the second phase of the bp-operated Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project that they will take forward to the next stage of evaluation. The partnership – composed of...
News

Guyana’s Stabroek Block produced 11.5 million barrels of crude in January 2023

Kemol King -
ExxonMobil produced 11.5 million barrels of crude oil from the Stabroek Block’s Liza projects in January, marking a strong open to 2023. Production averaged 372,000 barrels per day (bpd), according to data from Guyana’s Petroleum Management Programme. The Liza Phase...
News

Stabroek partners looking to up Liza Unity production in Q4 2023

OilNOW -
After a successful start-up in February 2022 and a gradual production ramp-up in July, the Stabroek Block co-venturers are considering production optimisation measures on the Liza Unity FPSO in the fourth quarter of 2023. Hess President and Chief Operating Officer,...
News

Exxon wrapped up Guyana operations in 2022 with 11.5 million barrels in December

Kemol King -
Closing out 2022, ExxonMobil produced 11.5 million barrels of oil from the Stabroek Block Liza projects, averaging 371,400 barrels per day (bpd). From Liza Phase 1, the Liza Destiny floating production, storage, and offloading (FPSO) vessel extracted 4.286 million barrels,...
Exploration

‘Biodegradation risk’ could hamper some of Guyana’s offshore developments – S&P Global

OilNOW -
Although being the holder of the world’s 17th largest oil reserves with an exploration success rate that is more than double the global average, offshore operations in the Guyana basin still come with risks. In its latest assessment and...
News

Guyana has raked in over US$1.1 billion in oil revenue so far this year

OilNOW -
As of November 30, Guyana received US$1.17 billion from oil sales and royalties so far this year, according to reports from the Central Bank. The sale of 10 lifts in the period, representing Guyana’s share of profit oil, returned US$1.015...
News

Petrobras hits first oil at Itapu field offshore Rio

OilNOW -
Brazil’s Petrobras has started production on its newest vessel – the P-71 at the Itapu field, located in the Santos Basin pre-salt area. Petrobras said that the floating production, storage and offloading (FPSO) vessel, docked 200 kilometres off the coast...
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Latest News

NewsKemol King -

U.S. EXIM Bank President says US$526M loan to Guyana is ‘first of many deals to come’

A US$526 million loan to Guyana for its Gas-to-Energy project is the first of many deals to come, an...

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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