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Reassembly of gas compressor completed, testing to begin – ExxonMobil

OilNOW -
ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and the machine is now being prepared for testing at the MAN Energy Solutions workshop in...
Exploration

Guyana pushing big volumes in South America deepwater bonanza

OilNOW -
South America continues to be a major player in the global arena for deepwater discoveries, with Guyana pushing big volumes and massive potential finds remaining. According to Norway based Rystad Energy, the South America/Caribbean region was the clear winner...
News

No linkage between compressor issue, production optimization – ExxonMobil

OilNOW -
German engineering company MAN Energy Solutions says there is no linkage between technical issues encountered with the flash gas compressor on the Liza Destiny FPSO, and production optimization activities that were ongoing at the time the challenges were encountered. ExxonMobil...
News

Stabroek block subsea systems provider creates twin companies

OilNOW -
TechnipFMC announced on Monday the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies. In connection with the separation, the Technip Energies technical reference price was set at €9.00 ahead of...
News

Why hasn’t Guyana spent a dollar of its now over US$200 million in oil revenue?

OilNOW -
Since oil exports began in Guyana in January 2020, the government has exported approximately 5 million barrels of oil – 4 last year and its first cargo for 2021 just two weeks ago – representing the country's share of...
News

Major opportunities coming for Guyanese suppliers to service Saipem fabrication yard

OilNOW -
Italian oilfield services company Saipem will soon commence a search for local vendors to supply goods and services for the operation of its fabrication yard and logistics area that is currently under construction in Guyana. Saipem has been awarded subsea...
News

Exxon extended position in South America last year despite pandemic woes

OilNOW -
Although faced with its most challenging year to date due to the impact of the coronavirus pandemic, U.S. oil major ExxonMobil made significant strides in South America last year, extending its position across multiple basins off the continent's northeastern...
News

Guyanese companies to hear of upcoming O&G opportunities at Exxon supplier forum

OilNOW -
More than 2700 Guyanese companies have been invited to learn more about key contracts and upcoming tenders in oil and gas, as ExxonMobil Guyana and co-venturers Hess and CNOOC get ready to stage the Guyana Supplier Forum 2021, hosted...
News

Hess reports US$97M loss for Q4 2020

OilNOW -
Hess Corporation, a 30% co-venturer on Guyana’s Stabroek Block, announced on Wednesday that it suffered a net loss of US$97 million, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of US$222...
News

IMF oil price forecast could see Guyana earning around $50 million per lift this year

OilNOW -
The International Monetary Fund (IMF) said in an updated forecast that oil prices are expected to average just above $50/b in 2021, a more than 21% rise from 2020's depressed level, as the rollout of vaccines and fiscal stimulus...
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Spain-bound tanker departs Guyana with second Yellowtail cargo – OilX

The Nordic Zenith tanker has departed ExxonMobil Guyana’s ONE GUYANA floating production vessel with the second cargo of crude...

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