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Bahamas well fails to deliver commercial crude

OilNOW -
The Perseverance #1 well in The Bahamas did not encounter hydrocarbons in commercial quantities, Bahamas Petroleum Company (BPC) announced on Monday. The well reached a depth of approximately 3,900 meters without incident and will now be permanently plugged and...
News

Africa, Americas lighting up deepwater exploration this year

OilNOW -
Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemic, but the overall results were nevertheless positive, a Rystad Energy analysis reveals. The success rate rose to 41% from 32% in 2019...
News

Staatsolie boss wants Guyana, Suriname to build world-class shore base as oil discoveries grow

OilNOW -
Both Guyana and Suriname are without adequate shore base facilities to support the growing needs of oil companies that continue to ramp up exploration and production activities offshore the two countries. But this state of affairs could change quite...
Opinions

Rig count in Guyana-Suriname basin has doubled in 2 years

OilNOW -
By Hans Jacob Bassoe Bassoe Offshore In the span of just five years, ExxonMobil has had 18 successful discoveries in the Guyanese Stabroek Block alone and proven recoverable resources of more than 9 bboe.  And the operator does not plan on slowing...
News

Argentina’s ‘dead cow’ producing tight oil at record levels, matching US well scores

OilNOW -
The oil production decline that the coronavirus pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory, Norway based Rystad Energy said on Wednesday. The reserve’s oil output has not only rebounded to pre-pandemic levels but...
News

Venezuela releases Guyanese fishing vessels, crew

OilNOW -
Venezuelan authorities have released the two Guyanese fishing vessels and 12 crew members that were detained almost two weeks ago by its navy. Guyana has maintained that the vessels were operating well within its waters at the time of...
News

Venezuela bumps up January oil production by 100,000 b/d to surpass half-million b/d mark

OilNOW -
Average crude output by Venezuela's state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by S&P Global Platts. Also, the preliminary average of Venezuelan crude...
News

Brazil sweetening pot for oil investors to offset competition from Guyana, Suriname

OilNOW -
Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...
News

Petrobras makes new discovery in Brazil’s pre-salt

OilNOW -
Petrobras said on Friday it has identified the presence of hydrocarbon in a pioneer well in the CM-411 block, located in the Campos Basin pre-salt, in the State of Rio de Janeiro. Well 1-BRSA-1377-RJS, informally called Urissanê, is located approximately...
News

Venezuela ramps up naval activity in Guyana’s maritime space

OilNOW -
Since issuing a new decree on January 7 in what Venezuelan President, Nicolas Maduro, described as “a new maritime territory”, Guyana’s Minister of Foreign Affairs, Hugh Todd, said there has been increased activity in Guyana’s maritime space by Venezuelan...
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Authorities say CGX has been treated fairly, insist no dispute exists with company

There is no dispute between CGX Energy and the Guyana government, the country's Minister of Natural Resources, Vickram Bharrat,...

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