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Suriname offshore breakeven expected to go down with more discoveries

OilNOW -
The projected breakeven price for development of oil fields offshore Suriname is expected to reduce in coming years as more discoveries are made, and production gets underway. So far, three discoveries have been made at Block 58, estimated to contain...
Regional

U.S extends Chevron’s stay in Venezuela to mid-2021

OilNOW -
(S&P Global Platts) The US Treasury said on Tuesday that Chevron and top oilfield services firms can remain in Venezuela until June, extending a wind-down deadline that was set to expire on December 1. The move effectively punts the decision...
News

Suriname is 2nd in the world for volume of oil discovered this year, Guyana remains big prize in basin

OilNOW -
Of the 73 new discoveries announced this year (through October), Suriname has emerged as the number two location for the volume of oil found, second only to Russia. According to a new report from Rystad Energy, exploration activity has...
News

Staatsolie opens new bid round for 8 blocks offshore Suriname

OilNOW -
Eight blocks covering an area of over 13,524 km2 of underexplored but highly prospective acreage in the western part of the Suriname offshore basin went on offer on Monday by Staatsolie Maatschappij Suriname N.V. According to bid documents seen by...
News

Apache lines up 5th exploration well in Suriname as priority shifts to South America

OilNOW -
U.S. based Apache Corporation has selected its 5th exploration well offshore Suriname at the prolific Block 58 where it has already made three discoveries and is now moving forward with appraisal drilling. The company said on its Q3 2020...
News

Venezuela oil exports fall to new historic low

OilNOW -
(Reuters) - Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according...
News

CARICOM examining role of Guyana’s hydrocarbon resources in regional energy security

OilNOW -
As the Guyana government presses on with plans for a natural gas power generation plant to provide cheaper and more reliable energy to its citizens, the Caribbean Community (CARICOM) Secretariat is also looking at how the country’s oil and...
Exploration

Staatsolie CEO sees big benefits for Guyana and Suriname from natural gas

OilNOW -
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the transformation of these neighbouring countries which are now moving to develop their deepwater hydrocarbon resources....
News

Eni gets greenlight from US authorities to offload crude from tilting oil tanker

OilNOW -
The Energy Chamber of Trinidad and Tobago said in an update on Friday that Italian-based multinational oil company, ENI has been given the green light from the United States to offload crude oil from the Nabarima FSO, without breaking...
News

Equinor in double oil strike offshore Newfoundland

OilNOW -
Equinor (60%), and its partner BP Canada (40%), have made two oil discoveries offshore Newfoundland, Canada. The two wells at the Cappahayden and Cambriol prospects, drilled this summer in the Flemish Pass Basin, have proven the presence of hydrocarbons; however, it is too early to provide specific...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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