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Exploration

Average discovery size at Stabroek block is 500 million boe with a record 90% success rate

OilNOW -
Since 2015, ExxonMobil has made 18 discoveries at the Stabroek block offshore Guyana with just two non-commercial encounters – Skipjack-1 and Sorubim-1 – which demonstrate a 90% exploration success rate in the prolific Guyana-Suriname basin. The 18 discoveries so far...
News

ExxonMobil looking for suppliers for its fiber optic cable project

OilNOW -
ExxonMobil Guyana is looking for suppliers to provide onshore installation services for its high-speed fibre-optic/wireless transport project. The company said in a public notice it was seeking to identify suppliers who can provide ‘onshore underground fiber optic cable survey and...
Opinions

For Guyana ‘light is right’ – the crude quality of choice

OilNOW -
The following is an opinion piece by Arthur Deakin, Analyst at Americas Market Intelligence (AMI) where he conducts political, economic, and other risk analysis activities for the mining, energy and infrastructure sectors in both Latin America and Africa. Starting in January...
News

Bulk of oil supply next 20 years will come from ‘advantaged barrels’ – Guyana now has over 9 billion

OilNOW -
Whatever the pace of the energy transition, the world will still rely on oil and gas for much of its energy needs until well beyond 2040. UK-based global energy group Wood Mackenzie says exploration will be critical in meeting this future...
Exploration

Stena Carron exits ‘deepest Guyana well’ for new drill campaign

OilNOW -
The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at the Redtail area, back in the adjacent Stabroek block, for an exercise that is set...
News

Fabrication work to begin on giant Prosperity FPSO

OilNOW -
Fabrication work is set to begin on the giant Fast4Ward® MPF hull for ExxonMobil’s Payara Development offshore Guyana that will see the Prosperity FPSO pushing total oil production in the South American country to more than 500,000 bpd by...
News

ExxonMobil looking to establish high-speed fibre-optic service linking offshore, onshore operations

OilNOW -
In an effort to ensure production within the Stabroek Block is efficiently managed at all times, ExxonMobil Guyana plans to implement a secure, high-speed fibre-optic/wireless transport service. The project will ultimately connect the oil major’s onshore and offshore facilities...
News

Dated Brent boosted by vaccine news a month ahead of Guyana’s final oil lift for 2020

OilNOW -
Rare positive news amid the coronavirus pandemic pushed crude oil flat prices, including the flat price Dated Brent benchmark, sharply higher on Monday, although physical differentials remained stuck in negative territory for some BFOET grades, S&P Global said in...
News

Saipem building construction yard with ‘largest heavy lift crane’ in Guyana, local team executing work

OilNOW -
Saipem said on Monday it has received authorization to proceed with the final phase of the Payara development project in Guyana from ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL). This authorization allows for the finalization of the...
News

Guyana oil production will grow tenfold, contribute to uptick in S/America’s output – GlobalData

OilNOW -
Rapid development of oil fields offshore Guyana will result in production increasing tenfold in the coming years, and along with Brazil, will see South America’s output surpassing volumes coming from North America by 2024. While several projects in Brazil and...
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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...

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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